Goa villa is not on the block, says Kingsfisher

Mumbai: A day after lenders asked HDFC Securities to value two Kingfisher properties, the cash- starved airline on Friday said the Goan property is not up for sale .
"The reported "sale" of Kingfisher Villa and Kingfisher House are factually incorrect. Kingfisher Villa (in Goa) is owned by United Breweries Holdings and was offered as security to Axis Bank whose loan was incorporated into the lenders consortium," the airline said in an official statement this evening.
On Thursday, after a meeting between 17-member banking consortium and the airline's management, bankers had said they have hired HDFC Securities to do a valuation of the two properties -- in Mumbai and Goa -- worth Rs 120 crore to recover a part of the RS 7,500 crore loans to the Vijya Mallya-led airline.
07/07/12 PTI/Business Today

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

Categories: Kingfisher Jul 2012