CBEC defreezes 10 bank accounts of Kingfisher; Vijay Mallya to clear dues of Rs 110 crore till March

New Delhi: The Central Board of Excise and Customs has decided to defreeze beleaguered Kingfisher Airline's 10 bank accounts.
The CBEC has also allowed the airline to pay its dues of Rs 110 core in installments till March 31, 2012.
The breakthrough came about after Airline's high-profile promoter Vijay Mallya met CBEC chairman SK Goel and sought resolution of the problem.
"We will defreeze the accounts after the airline gives a written undertaking on Tuesday," a finance ministry official privy to the development told ET.
The company will pay service tax dues of about Rs 15 crore for November on Tuesday and rest April-October due of Rs 110 crore in installments before the end of financial year.
Mallya is understood to have highlighted the problems faced by the airlines due to rise in aviation turbine fuel prices.
"He was told that no relief could be given on service tax front as the airline had already collected the tax from passengers and he was liable to deposit it with tax authorities," the official said.
13/12/11 Economic Times

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Categories: Kingfisher Dec 2011