Mumbai: In a move that may further irk the stressed-out lenders' consortium of Kingfisher Airlines Ltd, Vijay Mallya, Chairman, Kingfisher Airlines, has moved 40 million shares held by one of his companies—Kingfisher Finvest India to UB International Trading Limited. This transaction between Vijay Mallya-owned companies was effected through an off-market transaction. It is understood that UB International Trading may not be covered under the lender's agreement and hence lenders may not be able to enforce liabilities on this entity immediately, Raghuvir Badrinath reported in Business Standard.
Mallya, through a clutch of his promoter-owned companies, holds 32.12 per cent in Kingfisher Airlines, which has been grounded for more than a year now.
02/11/13 TravelBizMonitor
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Mallya, through a clutch of his promoter-owned companies, holds 32.12 per cent in Kingfisher Airlines, which has been grounded for more than a year now.
02/11/13 TravelBizMonitor
