Asia/Pacific

Kingfisher banks move to recover dues

By Victoria Tozer-Pennington Jul 01, 2013 0 mins read

Banks owed money by Kingfisher Airlines are continuing to work to recover their dues, now by repossessing its physical assets. The consortium of banks is also in talks with Srei Infra to recover money from the sale of the pledged Rs 1,200 crore worth of USL shares held by it. The consortium has asked Srei Infra to sell the shares by July-end and recover its due of Rs 429 cr and give the remaining shares to the consortium.

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