Mumbai: Kingfisher Airlines Ltd's creditors will move to attach its physical assets to recover dues. The lenders had also filed a case with the Debt Recovery Tribunal in Bengaluru late last month to invoke the personal and corporate guarantee valued at around Rs 3,000 crore. Not just that, banks are seeking claims on assets that promoter Vijay Mallya may have transferred to other entities in the interim to avoid them being attached, Simran Gill reported in The Economic Times.
Sources close to the development say that the grace period under the SARFAESI notice served to the airline by the consortium of banks has ended and now they will attach the assets, including the Goa Villa and Kingfisher House in Mumbai, which have a combined value of Rs 100 crore. They will also look at attaching physical assets like office space, Kingfisher Airlines buses, etc. According to a senior banker, "The consortium is hoping to recover close to Rs 150 crore through the SARFAESI route."
06/07/13 TravelBizMonitor
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Sources close to the development say that the grace period under the SARFAESI notice served to the airline by the consortium of banks has ended and now they will attach the assets, including the Goa Villa and Kingfisher House in Mumbai, which have a combined value of Rs 100 crore. They will also look at attaching physical assets like office space, Kingfisher Airlines buses, etc. According to a senior banker, "The consortium is hoping to recover close to Rs 150 crore through the SARFAESI route."
06/07/13 TravelBizMonitor
