Lenders to defunct Kingfisher Airlines on Wednesday said they have received an offer to settle loan from the company and they will examine the proposal.
Liquor baron Vijay Mallya and Kingfisher Airlines today submitted a proposal in the Supreme Court for repayment of Rs 4,000 crore out of the loan amount of Rs 6,903 crore to the consortium of banks, led by State Bank of India, by September this year. "The consortium of banks led by SBI confirms receipt of an offer for settlement of dues from Kingfisher Airlines Ltd. The bank, along with other consortium members, will examine the same," SBI said in a statement here today. The statement, however, did not disclose the amount Mallya has offered to repay to the banks. Today's proposal for repayment in the Supreme Court was submitted by Mallya, Kingfisher, United Breweries (Holdings) Ltd and Kingfisher Finvest (India) Ltd. A bench comprising Justices Kurian Joseph and R F Nariman allowed the consortium of banks a week's time to respond to the proposal and posted the matter for further hearing on April 7. On March 9, the government had informed the apex court that Mallya, who is facing legal proceedings for allegedly defaulting on loans of over Rs 9,000 crores from various banks, had left the country a few days back.
30/03/16 PTI/Mid Day
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Liquor baron Vijay Mallya and Kingfisher Airlines today submitted a proposal in the Supreme Court for repayment of Rs 4,000 crore out of the loan amount of Rs 6,903 crore to the consortium of banks, led by State Bank of India, by September this year. "The consortium of banks led by SBI confirms receipt of an offer for settlement of dues from Kingfisher Airlines Ltd. The bank, along with other consortium members, will examine the same," SBI said in a statement here today. The statement, however, did not disclose the amount Mallya has offered to repay to the banks. Today's proposal for repayment in the Supreme Court was submitted by Mallya, Kingfisher, United Breweries (Holdings) Ltd and Kingfisher Finvest (India) Ltd. A bench comprising Justices Kurian Joseph and R F Nariman allowed the consortium of banks a week's time to respond to the proposal and posted the matter for further hearing on April 7. On March 9, the government had informed the apex court that Mallya, who is facing legal proceedings for allegedly defaulting on loans of over Rs 9,000 crores from various banks, had left the country a few days back.
30/03/16 PTI/Mid Day
