No second round of debt restructuring for Kingfisher by banks

New Delhi: Banks have no plans to carry out a second round of debt restructuring of the ailing Kingfisher Airlines which has an outstanding loan of around Rs 6,419 crore, Parliament was informed today.
" State Bank of India, leader of the consortium (of 11 lenders to Kingfisher), has stated that at present, there is no plan," Minister of State for Finance Namo Narain Meena said in a written reply in Lok Sabha.
He was replying to a question on whether lenders are planning to carry out a second round of restructuring of loans to help Kingfisher.
The Minister further said the airline has a total outstanding loan liability of Rs 6,419.60 crore, which include Rs 9,730.37 crore provided to Kingfisher for non-fund based activities.
SBI, the minister said, has an exposure of Rs 1,457.78 crore, followed by IDBI Bank (Rs 727.63 crore), Punjab National Bank (Rs 710.33 crore), Bank of India (Rs 575.27 crore) and Bank of Baroda (Rs 537.51).
09/12/11 PTI/Economic Times

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Dec 2011