Kingfisher 's debt of around Rs 7,500 crore is at stake and public sector banks are in a dilemma after the expiry of the airline's licence. How much will they get if they demand liqudiation? Why are they waiting?, reports Gopika Gopakumar of CNBC-TV18.
They are shocked and furious. Yet lenders to Kingfisher are resisting from pulling the plug on the airline even after its licence expired on December 31. it has been almost a year since KFA has turned NPA for banks. Lenders tell CNBC-TV18 that they will have to take a huge haircut if they start the recovery procedure.
Banks have an outstanding debt of Rs 7500 cores to the airline company against a collateral of nearly Rs 2000 crores which includes guarantees of UB Holding and United Breweries, shares of united spirits, Mangalore Chemicals, Mcdowell's and other tangible security like the villa in Goa and Kingfisher's other premises.
01/01/13 Gopika Gopakumar/CNBC-TV18/moneycontrol.com
