Mumbai: Lenders to bankrupt Kingfisher Airlines have decided to take legal action against the airline company for its failure to repay over 7,000-crore debt despite repeated reminders.
Lenders had been pursuing a soft approach so far in the hope that the company, which has not paid interest on its loans for more than a year now, can be persuaded to come out with a revival plan. But their patience seems to be running out now.
"On Friday, it became clear that banks are running out of patience," said a banker who attended last week's meeting between lenders and the company in Bangalore. "The meeting was called to give a final hearing to the borrower before lenders decided pull the plug," he said.
08/01/13 Sangita Mehta/Times of India
