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Lenders to start recovery of Kingfisher Airlines' loans

Kingfisher lenders, on Tuesday,decided to start the process of recovering Rs. 7,500 crore outstanding loans from the grounded airline, saying the company has failed to come up with any specific revival plan."We have decided to recall (initiating the recovery process) the loans given to Kingfisher ...

India probing Kingfisher Airlines over alleged financial irregularities | Reuters

Sep 15, 2015    

MUMBAI India's financial fraud investigating agency has sought information from drinks company United Spirits Ltd in connection with a probe into former group firm Kingfisher Airlines Ltd over alleged diversion of funds.The agency is looking into alleged financial irregularities from 2005, when liquor baron Vijay Mallya's UB Group controlled both companies, TV channel CNBC TV18 reported on Tuesday.United Spirits, India's largest spirits company and now controlled by Britain's Diageo, said in a statement to the Bombay Stock Exchange on Tuesday that it was cooperating with the investigating auth...

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