Monday, May 06, 2013

Banks recover Rs 1,000 crore by selling assets of Kingfisher Airlines: SBI

New Delhi: State Bank of India (SBI) today said the consortium of lenders has recovered Rs 800-1,000 crore and is making all efforts to recover the remaining dues from beleaguered Kingfisher Airlines.
"KFA recoveries are going on. We have substantial amount of recoveries. Total recoveries for banks more than Rs 800-1000 crore," SBI Chairman Pratip Chaudhuri said here.
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore from the carrier. It has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore. That apart, lenders have the brand Kingfisher as a security.
06/05/13 PTI/Economic times