New Delhi: The Kingfisher Airline on Thursday issued a statement seeking to refute reports that banks led by the SBI had initiated debt recovery proceedings against it. The statement issued by the cash-strapped airline said, "Following misleading and factually incorrect reports appearing in a section of the press, Kingfisher Airlines Ltd would like to clarify that it is patently wrong and false to claim or state that banks have started recovery proceedings after a meeting of the consortium of bankers today.
"The meeting was scheduled as an update meeting and there was no discussion on commencement of recovery proceedings."
The statement added, "Kingfisher House (in Mumbai) has been lying vacant after the staff moved to our new offices at The Qube in Mumbai, and at that time itself, on our own accord, we approached the banks with a proposal to liquidate this unutilised asset and at todays meeting we raised the issue of this pending approval."
Reports had earlier claimed that at a bankers' meeting held on Thursday morning, it was decided to initiate debt recovery proceedings against the ailing airline company....more
03:08 PM, Jul 05, 2012
New Delhi: In a major blow to the cash-strapped Kingfisher Airlines, banks on Thursday reportedly decided to launch their debt recovery process against the ailing company. Sources said that the bankers had decided to sell off Kingfisher's non-core assets that include Kingfisher House in Mumbai and a villa belonging to the airline's chief, Vijay Mallya, in Goa. Sources said that the decision was taken after a group of banks, led...
01:53 PM, Jul 05, 2012
New Delhi: Finance Minister Pranab Mukherjee will on Wednesday inaugurate the Conference of the Chairpersons of Debts Recovery Appellate Tribunals (DRATS) and Presiding Officers of Debts Recovery Tribunals (DRTS). During the day-long Conference, the Chairpersons of DRATs and Presiding Officers of DRTs will recommend measures required to remove the bottlenecks and challenges before these tribunals to ensure expeditious and speedy recovery of public money. At present, a large amount of...
02:52 AM, Jun 06, 2012