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Lenders to start recovery of Kingfisher Airlines' loans

Kingfisher lenders, on Tuesday,decided to start the process of recovering Rs. 7500 crore outstanding loans from the grounded airline, saying the company has...

Consortium of 17 banks files contempt application in HC against Mallya, Kingfisher Airlines

Jan 07, 2015    

Bengaluru: A contempt application was filed by a consortium of 17 banks in the Karnataka High Court today against liquor baron Vijay Mallya, his grounded airline Kingfisher Airlines and UBHL for allegedly violating an undertaking given to the Debt Recovery Tribunal (DRT) that they would not alienate unencumbered assets nor deal with them."We have filed a contempt application in the High Court against Kingfisher Airlines, United Breweries Holdings Limited (UBHL) and Dr Vijay Mallya for violating an undertaking given before DRT...," N Chintan Chinappa, counsel for consortium ofbanks, t...

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