After lenders decided to recall loans given to Kingfisher Airlines (KFA), group holding company, UB Holdings, had sought shareholders’ approval to “realign” its exposure to KFA.
UB Holdings wants to raise its loan limit from the current Rs 300 crore to Rs 750 crore, while scaling down investment limit from Rs 1,200 crore to Rs 750 crore. The company authorised its board to take appropriate steps in this regard, UB (Holdings) said in a regulatory filing with the Bombay Stock Exchange. The overall limit has been retained at Rs 1,500 crore, the draft resolution said.
(Published 18 February 2013, 16:37 IST)
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