For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Consortium led by SBI gets Rs 550 cr by selling assets of KFA

By Religare
|

State Bank of India (SBI), together with its consortium, has recovered around Rs 550 crore by selling assets of troubled airline Kingfisher, reported PTI.

Out of this, SBI got Rs 140 crore, for the rest of the nearly Rs 6,000 crore unpaid debt, he said banks have personal guarantees of airline chairman Vijay Mallya.

The consortium has taken possession of Kingfisher House, the corporate office of now defunct Kingfisher Airlines which owes about Rs 7,000 crore to the lenders, said PTI.

 

KFA has been grounded since October 1 last year after a labour unrest due to non-payment of salaries which have not been paid since last May.

Dion Global Solutions Ltd.

Read more about: kingfisher airlines sbi
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more