Mallya owned Kingfisher Airlines to appeal winding up order 3 February, 2014 Vijay Mallya Grounded carrier Kingfisher Airlines Ltd, controlled by Force India F1 Team Owner Vijay Mallya, announced on Monday that it will appeal against a court order accepting a winding-up petition by a UK based creditor. Kingfisher, which has not flown in more than a year for want of cash, said it would appeal against the Karnataka High Court’s order admitting the petition by Aerotron Limited. Kingfisher said that Aerotron was an unsecured creditor. Kingfisher owes more than $1 billion to Indian state-run lenders, and hundreds of millions of dollars to airports and the Indian tax office among others. India does not have a formal bankruptcy process. Liquidation pleas could take years before a final verdict. Kingfisher has declared several times in the past that it is trying to arrange funds and revive operations, but has had little success so far. (GP247) Subbed by AJN. Tweet Related NewsForce India say Mallya’s troubles do not impact teamForce India boss granted bail on tax caseMallya says Force India are in a good placeMallya’s Indian Empress party fires up Monaco weekendMallya denies that money scandals hurting Force India imageSpanish Grand Prix: Toro Rosso preview Barcelona weekendNo diet for Hulkenberg who admits eating McDonald burgersMallya: We need to find a bit more performance if we want to challenge for podiumsMallya: I think we can arrive in Melbourne feeling happy about the work we’ve done over the winterMallya predicts early season dominance by Mercedes powered teams Spartacus I think we’ll lose two teams this season. My prime candidates are Lotus and Caterham. But my reserve is Force India and Marussia. Hearing that Kingfisher airlines is grounded makes me wonder if Force India should be at the top of my worrying list. Maybe I’m wrong, who knows?