Mumbai: Lead lender to Kingfisher Airlines SBI today said banks would do everything possible to recover their money.
"We will do whatever is appropriate in the best interest of the group of banks," State Bank of India (SBI) Managing Director, Mid-corporates, S Vishwanathan told reporters here.
He said every effort would be made at recovering the maximum amount "by all possible methods" which includes letting the company run again, winding up the company, sale of assets or sale of the company itself.
When asked whether the airline, which has been on a partial lockout since the past fortnight, can fly again, Vishwanathan, quipped "that is one of the alternatives."
SBI is the largest lender to the near-bankrupt airline with an NAP exposure of Rs 1,580 crore and the interest which has not been serviced since January.
Banks, which declared Kingfisher as a non-performing asset in January this year, gave a succour to the carrier in the face of the employee strike by agreeing to release around Rs 60 crore last week from an escrow account.
11/10/12 PTI/Business Standard
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"We will do whatever is appropriate in the best interest of the group of banks," State Bank of India (SBI) Managing Director, Mid-corporates, S Vishwanathan told reporters here.
He said every effort would be made at recovering the maximum amount "by all possible methods" which includes letting the company run again, winding up the company, sale of assets or sale of the company itself.
When asked whether the airline, which has been on a partial lockout since the past fortnight, can fly again, Vishwanathan, quipped "that is one of the alternatives."
SBI is the largest lender to the near-bankrupt airline with an NAP exposure of Rs 1,580 crore and the interest which has not been serviced since January.
Banks, which declared Kingfisher as a non-performing asset in January this year, gave a succour to the carrier in the face of the employee strike by agreeing to release around Rs 60 crore last week from an escrow account.
11/10/12 PTI/Business Standard
