Lenders appoint HDFC to value Kingfisher properties

Lenders to Kingfisher Airlines have appointed HDFC Securities to do a valuation of two pledged properties of the crippled carrier as part of their plan to partially recover Rs 7,500 crore loan.
"We have asked HDFC Securities to do a valuation of the two properties-- the Kingfisher House in Mumbai and a villa in Goa-- which are already pledged with the lenders. We have asked them to revert in 15 days," a senior banker, who was present in a meeting with the airline management on Thursday morning, said.
These properties are likely to fetch Rs 120 crore-- Rs 90 for the Mumbai property and Rs 30 crore for the Goan villa-- going by the current market value, said some bankers.
The Bangalore-based carrier owes banks Rs 7,500 crore in arrears and additional interest since January when it stopped servicing these loans.
06/07/12 PTI/Business Today

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Categories: Kingfisher Jul 2012