Press Trust Of India
Mumbai: Lenders to defunct Kingfisher Airlines Thursday said they have received an offer to settle loan from the company and they will examine the proposal.
Liquor baron Vijay Mallya and Kingfisher Airlines Thursday submitted a
proposal in the Supreme Court for repayment of `4,000 crore out of the loan amount of
`6,903 crore to the consortium of banks, led by the State Bank of India, by September this year.
“The consortium of banks led by SBI confirms receipt of an offer for settlement of dues from Kingfisher Airlines Ltd. The bank, along with other consortium members, will examine the same,” SBI said in a statement here Thursday.
Senior counsel CS Vaidyanathan, appearing for Mallya and Kingfisher Airlines, said the proposal to settle the dues was made to the chief general manager of the State Bank of India Wednesday morning.
A bench allowed the consortium of banks a week’s time to respond to the proposal and posted the matter for further hearing April 7.
March 9, the government had informed the apex court that Mallya, who is facing legal proceedings for allegedly defaulting on loans of over `9,000 crores from various banks, had left the country a few days back.
Mallya and Kingfisher Airlines owe `7,800 crore to the consortium led by SBI, which had an exposure of over `1,600 crore to the airline.
Other lenders include Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India, Central Bank of India, Federal Bank, UCO Bank and Dena Bank.
