Sunday, 25 November 2012

We are yet to hear from Kingfisher: SBI chief


With barely a week left for the November 30 deadline set by bankers to pump in fresh capital into the grounded Kingfisher Airlines, the lead lender State Bank of India, on Saturday, said it had not heard from the company so far.
“Kingfisher, as a company, has not given us any information or visibility on capital infusion,” State Bank of India 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 were reports relating to the group company, but that could not 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.
Banks have been demanding that Kingfisher management pump in at least $ 1 billion fresh equity

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