Press Esc to close
Sunday 23 July 2017
News updated at 12:05 AM IST

We're yet to hear from Kingfisher: SBI chief

Pune, Nov 24, 2012 (PTI) 18:33 IST
With barely a week left ahead of the November 30 deadline set by bankers to pump in fresh capital into the grounded Kingfisher Airlines, the lead lender State Bank of India today said it has not heard from the company so far.

File photo"Kingfisher as a company has not given us any information or visibility on capital infusion," SBI chairman Pratip Chaudhuri told reporters on the sidelines of the annual two-day banking summit `Bancon 2012' here.

In an obvious reference to the United Spirit-Diageo deal earlier this month, he said there are reports relating to the group company, but that cannot be a basis for taking a view on the airline. Late last month, SBI set a November 30 deadline for Kingfisher to bring in fresh capital and produce a comprehensive revival plan.

But airline chairman Vijay Mallya said later that he had no knowledge about any such deadline. On the day United Spirits sold majority stake to the English liquor major Diageo for over Rs 11,100 crore, Mallya had hinted that the proceeds would not be diverted to the troubled airline, saying "both businesses will be dealt with separately".

The SBI chairman had earlier this week categorically ruled out fresh funds to the airline, which has not been servicing its Rs 7,000-crore working capital and long-term loans taken from 17 banks since January this year.

Banks have been demanding that Kingfisher management pump in at least USD 1 billion of fresh equity.

Go to Top

Photo Gallery
Women sizing up a painting put on display as part of an art exhibition against communalism...

Women sizing up a painting put on display as part of an art exhibition against communalism...

Full dress rehearsal of oath taking ceremony of President-elect Ram Nath Kovind...

Full dress rehearsal of oath taking ceremony of President-elect Ram Nath Kovind...

A green parrot nestled in a tree hollow, in Chennai...

A green parrot nestled in a tree hollow, in Chennai...

A Hindu devotee offering snake in Burhi Gandak river, on the eve of Sawan Amavasya...

A Hindu devotee offering snake in Burhi Gandak river, on the eve of Sawan Amavasya...

A peacock butterfly can be seen sitting inside a sunflower near Celle, Germany...

A peacock butterfly can be seen sitting inside a sunflower near Celle, Germany...

Kawad yatri waiting for their turn in a queue outside a Shiv temple in Meerut...

Kawad yatri waiting for their turn in a queue outside a Shiv temple in Meerut...

A farmer ploughs his paddy field during monsoon session at a village near Balurghat in South...

A farmer ploughs his paddy field during monsoon session at a village near Balurghat in South...

Chennaiyin FC Co-owner and actor Abhishek Bachchan reacts during a press conference...

Chennaiyin FC Co-owner and actor Abhishek Bachchan reacts during a press conference...

Exile Tibetans hold posters of the late Nobel laureate Xiaobo Liu during a prayer service...

Exile Tibetans hold posters of the late Nobel laureate Xiaobo Liu during a prayer service...

Temples submerged in flooded waters of Narmada river at Gwarighat in Jabalpur...

Temples submerged in flooded waters of Narmada river at Gwarighat in Jabalpur...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.