The Karnataka High Court on Friday admitted SBI-led consortium's petition seeking the winding up of the beleaguered Kingfisher Airlines Ltd.

A Justice Anand Byrareddy-led bench of the high court admitted the petition after Kingfisher failed to demonstrate any real progress made in the attempt to revive the grounded airline. In September, the airline had told the court that it was in talks with prospective investors and was working out a scheme for revival of its operations.

During the hearing, Kingfisher's Senior Counsel K. G. Raghavan claimed that the airline had directly engaged the largest creditors as part of its revival efforts. But, lenders' Counsel S. S. Naganand argued that no details of revival process had been mentioned in the email sent by the company to SBI.

The HC bench admitted the lenders' petition, but deferred the process of issuing public notice as well as hearing in the case till the second week of January.

Kingfisher Airlines Ltd, which has not operates any flight since October 2012, reported a loss of Rs 715.56 crore for the three months ended September 30. In the corresponding period of the previous year, the airline had suffered a loss of around 753 crore.

Liquor baron Vijay Mallya-led Kingfisher Airlines Ltd owes Rs 2,673 crore as per public sector lenders' combined NPA list released by the All India Bank Employees Association (AIBEA).