Lenders seek "inside" details of Kingfisher

Banks today sought "inside" details of debt-ridden Kingfisher and asked its Chairman Vijay Mallya to make a presentation of the revival plan at the next meeting of SBI-led lenders' consortium
"We have requested a more detailed presentation for us to figure out how their business is moving forward, what is their securities structure and what are the kind of things happening inside the system," a banker told reporters after the meeting of lenders to Kingfisher Airlines.
"Once we understand clearly, which we couldn't today, we could probably take a call," he said, adding, "We have also requested Chairman Vijay Mallya himself to come and make a presentation at the next meeting likely this month itself".
The financially crippled airline has 17 lenders, led by the State Bank, which has an exposure of Rs 1,500 crore to the airline.
05/09/12 PTI/Business Standard

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Categories: Kingfisher Sep 2012