Lenders begin liquidating Kingfisher Airline assets

Victoria
By Victoria March 18, 2013 13:57

Lenders begin liquidating Kingfisher Airline assets

The members of consortium of lenders to the Kingfisher Airlines have started the process of liquidating its assets to recover their dues. Leader of the consortium, the State Bank of India confirmed that the process had been initiated last week but no assets have yet been sold.
“I am not very hopeful that anything will happen this financial year as it is already mid-March. We are in the process of receiving the call-up authorisation from other banks,” Shyamal Acharya, the deputy managing director (Accounts), SBI, said. “It is a complicated account and there are several things that need to be taken care of. This is not a single one-on-one loan.”

Victoria
By Victoria March 18, 2013 13:57
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