Vijay Mallya's United Breweries auditors fear Kingfisher Airlines exposure

PTI : Mumbai, Wed Feb 06 2013, 15:46 hrs

Ads by Google

Top Stories

UBHL in a filing to the BSE had yesterday said that guarantee commission arising out of corporate guarantee given and security commission from security pledged in favour of lenders of Kingfisher, has been reversed, not accounted for, in the current financial year, as the airline has been precluded from making payments by its bankers.

It further said certain corporate guarantees on behalf of KFA have been invoked. KFA is negotiating with the beneficiaries in this regard and has initiated steps to resume suspended commercial operations.

Page : 1 2 Single Page Format

Ads by Google

ALSO READ

The airline will charge a premium of Rs 500 for sitting in Rows one, two, 12 and 13 on a domestic flight. (Reuters)

IndiGo to charge a premium for preferential seats

In March, Novartis India had announced that Novartis AG intends to reduce its stake in the Indian entity. (Reuters)

Novartis appoints Citigroup as broker for Indian entity share sale

Cobrapost sting: Action against banks involved in wrongdoings soon, says RBI

Tata Comm has joined hands with telecom firm Ooredoo Qatar to launch Middle East's first IPX+ network. (Reuters)

Tata Communications launches IPX+ enabled network with Qatar firm

Please read our terms of use before posting comments

TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).