Kingfisher Airlines lenders set to file Sarfaesi claim

Banks expect protracted battle if promoters attempt to block recovery, plan to move debt recovery tribunal as well
The consortium of lenders to Kingfisher Airlines (KFA) will file a claim under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act in a day or two. But it seems unlikely banks will be able to recover a meaningful chunk of their dues of R7,000 crore any time soon.
In February, State Bank of India (SBI) deputy MD Shyamal Acharya had said banks held collateral worth R6,500 crore against loans to KFA. This included the Kingfisher brand, limited to the airline, which, according to media reports, was valued at around R4,100 crore by audit firm Grant Thornton India at the time the loan was given.
“Now in case of airlines we have to see; we have not ascertained the value of the brand yet. Since it is not flying now, the value might be much less,” Acharya told FE on Thursday. Acharya also said that the consortium will be filing a case with the debt recovery tribunal (DRT) next week.
“We are looking to see what we can recover quickly but the promoter could adopt delaying tactics,” he said. SBI, the lead lender in the 14-bank consortium, has an exposure of R1,600 crore to the bankrupt airline.
Under Sarfaesi, lenders can take possession of the fixed and current assets of borrower after 60 days of sending notice, while through the DRT, lenders can use judicial powers against the borrowers.

Kingfisher Still Short of Take-Off Clearance Wall Street Journal NEW DELHI--Kingfisher Airlines Ltd. hasn't met all requirements the government is demanding before it can fly again, a civil aviation ministry official said on Friday. Kingfisher's submission to the civil aviation department lacks detail, the senior ... See all stories on this topic »

Kingfisher lenders set to file Sarfaesi claim - The Financial Express Financial Express The consortium of lenders to Kingfisher Airlines (KFA) will file a claim under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act in a day or two. But it seems unlikely banks will be able to ... See all stories on this topic »

Kingfisher plc Stock Rating Reaffirmed by Espirito Santo Execution Noble (KGFHY) Mideast Time Kingfisher plc (NASDAQ: KGFHY)'s stock had its “buy” rating restated by analysts at Espirito Santo Execution Noble in a research report issued to clients and investors on Thursday, Stock Ratings Network reports. Several other analysts have also ... See all stories on this topic »

DGCA rejects Kingfisher's revival plan: Report Nagaland Post Beleaguered Kingfisher Airlines' (KFA) dream to fly does not seem to be converting into reality before long. The Directorate General of Civil Aviation (DGCA) has reportedly refused KFA's revival plan which the company had sought last month. A private ... See all stories on this topic »

3 FTSE 100 Shares Going Ex-Dividend Next Week: GlaxoSmithKline plc ... Motley Fool UK It's ex-dividend time for GlaxoSmithKline plc (LON: GSK), Antofagasta plc (LON: ANTO) andKingfisher plc (LON: KGF) next week. If you want to be eligible for a dividend payment, or if you're hoping a share price might drop disproportionately when the ... See all stories on this topic »

'Palamu Tiger Reserve has potential for bird tourism' Times of India Palamu's birds are under the umbrella of Important Bird Conservation Network (IBCN), an affiliated body of Bombay Natural History Society of Mumbai. There are three specimens of Kingfisher birds in this tiger reserve like Kingfisher,Pied, Kingfisher ... See all stories on this topic »

Air India Pilots Captain B K Soni and Capt Ravindra Nath put the lives of 166 passengers on a Bangkok-Delhi flight in danger by taking a 40-minute break

Air India Pilots Captain B K Soni and Capt Ravindra Nath put the lives of 166 passengers on a Bangkok-Delhi flight in danger by taking a 40-minute break 

Two Air India Pilots put the lives of 166 passengers on a Bangkok-Delhi flight in danger by taking a 40-minute break from the cockpit and getting two stewardesses to operate the plane in their absence. Their stunt almost ended in disaster after one of the stewardesses accidentally turned off the auto-pilot, forcing the pilots to rush back to their seats.

The incident took place 33,000 feet in the air on Air India flight AI 133 (an Airbus 321) from Bangkok to Delhi on April 12, which took off from Bangkok on schedule, at 8.55 am.

Thirty minutes later, First Officer Ravindra Nath excused himself from the cockpit for a bathroom break and got airhostess J Bhatt to occupy his seat in his absense. "According to the guidelines it is a standard procedure to ensure the presence of second person in the cockpit so that if the pilot is not able to operate the aircraft for some reason, the other crew member in the cockpit can immediately call for the other pilot. But what actually happened after this made a mockery of air safety," said a a source in Air India, who did not wish to be named.

Minutes after his co-pilot left the cockpit, Captain B K Soni called another stewardess, Kanika Kala, and asked her to take his seat. Captain Soni did not leave the cockpit immediately; instead, he spent a few minutes teaching the two stewardesses how to operate the aircraft.

He left the cockpit after putting the plane on auto-pilot, leaving the stewardesses to operate the flight by themselves for the next 40 minutes while he and his co-pilot took a nap in business class.

Putting an aircraft on auto-pilot does not exempt pilots from remaining in the cockpit; their presence is required to monitor the flight's status and turn off auto-pilot if required. This was illustrated perfectly when Captain Soni and First Officer Nath were forced to rush back to their seats after one of the stewardesses accidentally switched off the auto-pilot, engangering the lives of everyone on board.

"A senior cabin crew member witnessed the entire drama unfold and brought the matter to the notice of the Airline's management. All four were derostered and later suspended for this violation," added the Air India source.

Director General Arun Mishra of the Directorate General of Civil Aviation (DGCA), confirmed that all four employees had been suspended. "Following a safety violation, the airline has already suspended the people in question. We are conducting a inquiry into the matter," Mishra told Mumbai Mirror.

Captain Mohan Ranganathan, member of a government-appointed aviation safety panel, blamed the 'lackadaisical attitude' of the DGCA for the increase in air safety violations. "The DGCA should be held responsible for the increase in such cases as they have failed time and again to effectively enforce safety guidelines," said Ranganathan.

K Swaminathan, deputy general manager (corporate communications), Air India, did not comment on the incident, saying, "Your query has been referred to the concerned department for comment. We will revert to you on receiving their reply."

http://best-aviation-news.blogspot.com/2013/05/shooters-rahi-anjali-opposed-to.html

http://indian-aviation-news.blogspot.com/2013/05/air-india-to-get-compensation-from.html

http://australian-aviation-news.blogspot.com/2013/05/borghetti-eases-concerns-over-tiger.html

http://us-airlines-news.blogspot.com/2013/05/frontier-adds-new-penalties-for-fliers.html

http://aviation-news-canada.blogspot.com/2013/05/appointment-to-canadian-air-transport.html

http://hongkong-aviation-news.blogspot.com/2013/05/skys-limit-for-business-aviation.html

Pilot’s Career Guide

Nonfiction » Career Guides » Education
Nonfiction » Career Guides » Transportation

By Shekhar Gupta

Rating: Not yet rated. 

Published: July 13, 2013 

Words: 26,240 (approximate)

Language: English

ISBN: 9781301650040

Short description

International Airline Pilot’s Career Guide Learn Step By Step How to Become an International Airlines Pilot By Shekhar Gupta Niriha Khajanchi 

Extended description

1. Your Aviation Career Starts Here
2. Pilot Training
3. Flight Ratings – SPL, PPL, CPL, ATPL
4. Pilot and Personal Computer
5. Medical Requirements for Pilots
6. Pilot Training – Where to get it.
7. Best Commercial Pilot Training Schools
8. Aviation Crew [Flight, Cabin, Ground]
9. Aircrafts [Single Engine, Multi Engine, Prop, Turbo Prop, Jet]
10. Best Paying Flying Jobs
11. Pilots Interview Questions
12. Aviation Organizations
13. List of Abbreviations
14. Aviation Jargons
15. FAQ

Click her to Order     https://www.smashwords.com/books/view/336260

Lenders have increased pressure on promoters of Kingfisher Airlines by initiating a move to invoke the corporate guarantee provided by United Breweries and the personal guarantee of Dr Vijay Mallya.

Kingfisher Airlines lenders may try ‘wilful defaulter’ tag if guarantee turns dud


Lenders have increased pressure on promoters of Kingfisher Airlines by initiating a move to invoke the corporate guarantee provided by United Breweries and the personal guarantee of Dr Vijay Mallya.

Lenders said that the next move would be to seek an inventory of assets of the guarantor. They have also raised the spectre of labeling the promoters as "wilful defaulters" if they refused to pay despite having the resources. Although lenders have sought to recall their loans KFA and promoters have been continuing to maintain that they are pursuing revival of the airline, including seeking strategic investors. Last week Etihad, the airline once seen as a suitor for Kingfisher, picked up stakes in Jet Airways.

According to disclosures made to Parliament, Vijay Mallya has provided banks with a personal guarantee of Rs 249 crore, while United Breweries gave a corporate guarantee of Rs 1,601 crore. Besides this the next biggest security is the Kingfisher brand which had been valued at Rs 4,111 crore by Grant Thornton.


"One way of recovery against personal guarantee from a recalcitrant promoter is the wilful defaulter list. Putting them on the list does a lot of damage because if they don't pay up all their future entrepreneurships become doubtful," said a banker.

However, experts on banking laws said that it is not easy to classify a borrower a wilful defaulter. "RBI norms require the party to be given a 15-day notice allowing him to make a representation why he should not be called a wilful defaulter. Banks also have to provide him with all supporting evidence to give him a chance to defend himself. He has to make his representation before a committee of the bank and the final decision is taken by another committee including bank chief," said a lawyer representing corporate against banks.

Kingfisher Airlines lenders set to file Sarfaesi claim - The Financial Express Financial Express The consortium of lenders to Kingfisher Airlines (KFA) will file a claim under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act in a day or two. But it seems unlikely banks will be able to ... See all stories on this topic »

Kingfisher Airlines lenders may try 'wilful defaulter' tag if guarantee turns dud Times of India Although lenders have sought to recall their loans KFA and promoters have been continuing to maintain that they are pursuing revival of the airline, including seeking strategic investors. Last week Etihad, the airline once seen as a suitor for ... See all stories on this topic »

Kingfisher lenders invoke Mallya's personal guarantees Business Standard Stepping up their drive to recover dues from the ailing Kingfisher Airlines (KFA), lenders to the airline on Thursday invoked personal guarantees issued by Vijay Mallya, the promoter of the airline. According to a senior public sector bank executive ... See all stories on this topic » Business Standard

DGCA rejects Kingfisher's revival plan: Report Nagaland Post Beleaguered Kingfisher Airlines' (KFA) dream to fly does not seem to be converting into reality before long. The Directorate General of Civil Aviation (DGCA) has reportedly refused KFA's revival plan which the company had sought last month. A private ... See all stories on this topic »

DGCA rejects Kinfisher Airlines' revival plan TravelBizMonitor The Directorate General of Civil Aviation (DGCA) has rejected Kingfisher Airlines Ltd's (KFA) revival plan that it had submitted to the aviation regulator this month, as per an NDTV report. Kingfisher had requested renewal of its operating permit with ... See all stories on this topic »

Qatar, Air Arabia interested in Indian airlines Arabian Supply Chain Meanwhile grounded Kingfisher Airlines has also vied for Qatar's investment. Air Arabia is looking at tying up with an Indian partner for investing in a start-up like AirAsia India JV between the Malaysian budget carrier and the Tata Group. "The fight ... See all stories on this topic »

Banks to invoke personal guarantee of Mallya for KFA loans Moneycontrol.com After the sale of pledged shares, lenders have now invoked the guarantees provided by Kingfisher Airlines which consists of a personal guarantee of Vijay Mallya and the corporate guarantee of UB Holdings , reports CNBC-TV18's Gopika Gopakumar. See all stories on this topic »

Show me the money: Banks invoke Mallya's personal guarantees Firstpost The banks, which have already begun selling the pledged shares of United Spirits and Kingfisher Airlines, will now start disposing of the properties of the carrier, including the office spaces in Mumbai and an asset in Goa. Sarfaesi (Securitisation and ... See all stories on this topic »

FM assures to redress KFA staff salary issues: Sources Moneycontrol.com Salary--related issues just don't seem to end at Kingfisher Airlines. The carrier which is struggling hard to take to the skies will have to face the wrath of its employees who have not been paid salaries for around ten months now. According to... See all stories on this topic »

v Recession - hit Greece faces Fertility Crisis

In a nursery of a private maternity hospital in Athens, three mothers feed their newborns while another three babies nap nearby.
The room has only a few cots, and yet a number lie empty.
Sunk in recession for the past six years and struggling to steer its economy through painful austerity cuts, Greece now faces a fertility crisis as well.
“Benefits have been cut, the cost of living has risen, wages are down and there is great uncertainty,” says Leonidas Papadopoulos, managing director of the Leto hospital and a veteran obstetrician.
“Couples think twice nowadays, not only for a second child but even for their first… It looks like there will be 10,000 fewer births next year,” he adds, citing estimates drawn from state and private studies.
According to state statistics agency Elstat, the fertility rate in Greece has fallen from 2.33 children per woman in 1975 to 1.4 in 2011.
The replacement rate, the number of births at which the population remains stable, is 2.07 children.
Papadopoulos also cites a recent study by the University of Athens that found that the rate of miscarriages has doubled to four percent in the last two years.
And births have gone from 118,000 in 2008 to 101,000 last year, he notes.
“At this rate, Greece will be much smaller in a few years,” Papadopoulos says.
The European Union fertility leader is Ireland with 2.05 births in 2012, followed by France with 2.01 children.
In one of its projected scenarios, Elstat sees the population of Greece dropping to 9.7 million in 2050 from 11.29 million in 2012.
A jobless rate of over 27 percent—and over 30 percent among women—compounds the difficulty facing couples today.
“Policies to protect maternity are easier to apply in good (economic) periods,” says a high-ranking state welfare official who declined to be named.
“In the private sector, mothers very frequently do not make use of their rights because unemployment is very high,” the official added.
In Greece’s more easy-going civil service, staff can take up to 14 months in fully paid maternity leave—and have been known to obtain extra time for difficult pregnancies.
In the private sector, mothers can on paper claim up to 15 months of non-consecutive maternity leave—four of them unpaid—not including holidays.
In reality, however, employees rarely push to obtain full maternity leave for fear of losing their job, officials note.
The Greek ombudsman’s office highlights the problem in its latest report for 2012.
“Women who are pregnant or just back from maternity leave, run higher risks of…unemployment and precarious employment,” the report said.
“In many cases they accept a violation of their labor rights to avoid losing their job,” it noted, adding that having children was also likely to adversely affect a woman’s pay and career prospects within a company.
“We even have extreme examples of couples who have been trying to have a child for years, undergo costly treatment and then want to have an abortion because the husband just lost his job,” Papadopoulos said.
– The ‘money is so little that it cannot even cover bread and milk for the children’ –
Paradoxically, the axe has fallen the hardest on large families.
Until last year, mothers could claim a lump sum of 2,000 euros ($2,618) upon the birth of their third child, and the same amount for each child thereafter.
Then there were additional child support benefits of up to 4,700 euros a year, depending on income and the number of children, which were accessible to even moderately wealthy families.
These were eliminated in 2012 and replaced with a new, means-tested system.
From January 1, families are theoretically eligible for child support benefits of up to 5,880 euros — but they would need to have six children and be on the verge of starvation to claim it.
Spain is a similar example of a once-generous welfare gone for good — a 2,500-euro handout per baby was eliminated in 2011.
In Germany, parents receive 184 euros per month for their first two children. For the third child, the state pays 190 euros and for additional children 215 euros.
In Greece, even for couples who are not in dire straits, supporting a large family is tough.
“We cannot meet the needs of our three children and our parents are having to contribute from their pensions,” says Georgia Kitsaki, an unemployed hotel worker from Thessaloniki.
Georgia and her husband Nikos, who is also unemployed after a labour accident, received a monthly jobless benefit of 470 euros until December, and child benefit of 276 euros. The latter has since been suspended.

Recession-hit Greece faces fertility crisis Inquirer.net Pedestrians walk by a homeless man in Thessaloniki, Greece, Sunday, April 21. 2013. Sunk in recession for the past six years and struggling to steer its economy through painful austerity cuts, Greece now faces a fertility crisis as well. AP PHOTO ... See all stories on this topic » Inquirer.net

Britain 'set to avoid recession' Manchester Evening News Most analysts are predicting that gross domestic product (GDP) edged up by 0.1 per cent in the first three months of the year, which would mean the economy avoided returning to recession for the third time since 2008 after a 0.3 per cent slump in ... See all stories on this topic » Manchester Evening News

Wesleyan benefits from recession Financial Times Wesleyan Assurance Society, a specialist financial services company used by doctors and other professionals, has emerged as one of the beneficiaries of the recession. Amid growing worries about the impact of government reforms on pensions and other ... See all stories on this topic »

Recession teens show lower financial expectations Journal and Courier At 18, Mandi Cox can't afford to not think about what she can afford. The Lafayette Jefferson High School senior is one of millions of American teens who grew up during the Great Recession — and whose financial outlook on life has been shaped by it. See all stories on this topic »

City Report Shows More Were Near Poverty in 2011 New York Times The rise in New York City's poverty rate as a result of the recession has apparently eased, but not before pushing nearly half of the city's population into the ranks of the poor or near-poor in 2011, according to an analysis by the Bloomberg ... See all stories on this topic »

Family ties help some businesses weather recession The News Journal Jim Chico talks about the new tough screen vending machines they are building at The Wittern Group plant in Des Moines, Iowa on April 16. The family-owned company struggled during the recessionlike many businesses, but through the use of new ... See all stories on this topic »

Moving past recession, developer Fred Overton puts subdivisions on the map Columbia Missourian Developer Fred Overton uses heavy-duty equipment to scoop snow for his residents at Wyndham Ridge Subdivision on March 7. Whether it's moving snow, shoveling dirt or building relationships with the residents, Overton has a different task each day. "It ... See all stories on this topic » Columbia Missourian

UK May Avoid Triple Dip Recession, Huffington Post UK Excuse me for not following it any more, about 6 months ago they were talking that we were in our third dip (not that the 1st or 3rd makes any difference) now we may avoid it?, how is that possible? 1st, 2nd,or 3rd dip, isn't it just called a recession ... See all stories on this topic »

Osborne under fire over triple-dip threat as Tories urged to adopt Thatcher ... Daily Mail Britain's latest GDP figures are set to be announced on Thursday, and many experts predict that they will confirm the country has slipped into recession for the third time since the global financial crisis. The average forecast is just 0.1 per cent ... See all stories on this topic » Daily Mail

Figures to show state of economy expressandstar.com Crucial economic figures will this week reveal if the UK managed to dodge a triple dip recessionamid mounting warnings over the strength of the recovery and the latest downgrade blow. N0343491366540603394A Bank of England governor Mark Carney ... See all stories on this topic »

Texas explosion: 'He was a cowboy and he died with his boots on'

Texas explosion: 'He was a cowboy and he died with his boots on' Los Angeles Times “He was a cowboy and he died with his boots on.” The Uptmor family is a large clan within the tight-knit community of West (where some spell their last name with an “e” at the end). Buck Uptmor, 45, made a living posting barbed-wire cattle fences and ... See all stories on this topic »

SAN JACINTO: Put on that cowboy hat Press-Enterprise (blog) San Jacinto Councilwoman Crystal Ruiz, second from left, is going to Santa Clarita'sCowboy Festival at Melody Ranch Movie Studio on Sunday, April 21,to learn more about how that region has attracted film production business. The council gets into the... See all stories on this topic » Press-Enterprise (blog)

Lou Diamond Phillips and Wyatt McCrea to co-host Western Heritage Awards ... NewsOK.com (blog) With spring comes the excitement of celebrities, writers, Western musicians, directors, producers, actors and photographers who travel to Oklahoma City to accept the prestigious “Wrangler Award” at the National Cowboy & Western Heritage Museum's annual ... See all stories on this topic » NewsOK.com (blog)

Cowboy Golf Tournament held at Wilcox Oaks Red Bluff Daily News Pictured is the winning team of the Cowboy Golf Tournament Friday at Wilcox Oaks Golf Club, Jimmy Bennit, Mike Cox, Matt Holmberg and Billy Rickett. Also pictured, right, is Red Bluff-Tehama County Chamber of Commerce CEO Dave Gowen. ( Courtesy ... See all stories on this topic »

It feels good to be a Cowboy: Coppell wins state title in thrilling fashion Southlake Times The junior gave the Cowboys life netting the equalizer with a right-footed rocket into the upper-right corner on a free kick with 3:32 remaining in regulation. With 54 seconds remaining in the second overtime, he provided the game-winner, this time ... See all stories on this topic »

Annual Cowboy Festival appeals to all senses - The Signal Santa Clarita Valley Signal The Melody Ranch Motion Picture Studio is no stranger to crowds of people decked out in boots, spurs or Stetson hats, but plenty of new faces turned out at the studio Saturday to take part in the 20th annual Santa Clarita Cowboy Festival. First-time ... See all stories on this topic »

Letters: Cowboy up El Paso Times So, the mayor wants the city, (read that as the taxpayers), to pay "his" legal bills. This is particularly insulting since he went against the taxpayers' vote and brought this upon himself in the first place. He made a decision to ride "roughshod," as ... See all stories on this topic »

Spindletop goes back to the past with Cowboy Ruckus Beaumont Enterprise Port Neches resident Sylvia "Texas Flower" Butler walks the streets of Hamill Square during Gladys City's Cowboy Ruckus event on Saturday, April 20, 2013, at Spindletop Gladys City Boomtown in Beaumont. Photo taken: Randy Edwards/The Enterprise ... See all stories on this topic »

'Family Guy' Boston Marathon episode yanked WND.com (HOLLYWOOD REPORTER) — One of the more tasteless hoaxes making the rounds in the wake of the bombing at the Boston Marathon revolves around a recent episode of Fox's Family Guy. “TurbanCowboy,” which premiered in the U.S. on March 17, ... See all stories on this topic »

Opportunity for SMEs and new start ups like AeroSoft Corp to hire such talented Professionals from IIMs. .

Opportunity for SMEs and new start ups like AeroSoft Corp to hire such talented Professionals from IIMs. .

The Indian Institutes of Management, which sit at the top of the business education totem pole, can normally rely on the power of the IIM Brand to land their wards well-paying jobs year after year. But as this year's placement season looms, some are being forced to do the unthinkable not because of poor quality of Education but just because of Global Recession. more than 65% already got selected by top ventures only about 35% or less are waiting.

I personally visited IIM I on 31 March 2013 and spoke to 40 odd students there. from those  35% who are waiting, but even these students were seems to be much promising. It is an Opportunity for SMEs and new start ups like AeroSoft Corp to hire such talented Professionals.

I found all of them were very humble, down to earth and absolutely no IIM ego.  But looking very promising and Productive for any  SMEs and new start ups.  Its a Win win in the time of Global Recession.

AeroSoft Welcomes following professionals from Indian Institute of Management Indore as Project Manager

Er Aishwarya S [ B E , PGDM IIM - I ]

Er Sushmita Lakra [ B Tech, PGDM IIM - I ]

Er Susmita will be  working with AeroSoft Corp as a Project Manager. She belongs to the ‘City of Joy- Kolkata’ and loves eating delicious food. She is extremely hard working, goal oriented and passionate about everything she does, especially anything related to Information technology. She did her PGDM form IIM Indore in the year 2013 and has completed her B.Tech in IT from West Bengal University of Technology, Kolkata in the year 2011. Susmita has an experience in conducting both primary and secondary market research. She is adept at using analytical  tools that would help Aerosoft Corp , streamline their operations and generate revenues faster. According to Ministry of Civil Aviation (Aranca Research), the passenger traffic for airlines has been growing since the new millennium due to the increase in disposable income and introduction of low cost aviation. Constant awareness is the pre requisite to drive growth in any industry. So, Susmita Lakra as the project manager at AeroSoft Corp aspires to facilitate the process of Information gathering to satiate the dynamic needs of consumerism and avid readers.

Kingfisher has checkmated Indian banks, who are eagerly waiting to recover Rs 7,000 crore from Dr Vijay Mallya’s cash-strapped Kingfisher Airlines Ltd

Kingfisher Airlines Ltd  checkmates Indian banks


Kingfisher has checkmated Indian banks, who are eagerly waiting to recover Rs 7,000 crore from Dr Vijay Mallya’s cash-strapped Kingfisher Airlines Ltd   and are not sure about how to recover the value of the collateral pledged with them. The way to recover it is even more difficult.

The banks have no clue and a sub-committee of top four bankers has appointed a legal counsel to look into the recovery operation. The worst affected is SBI with exposure of Rs 1,600 crore, Punjab National Bank with Rs 800 crore, Bank of India Rs 650 crore, IDBI Bank Rs 800 crore and Bank of Baroda Rs 550 crore. The collateral valuation was done three years when KF was flying.

The consortium of banks has Mallya’s real estate in Mumbai, in Goa and two helicopters, apart from the airline brand and United Spirits shares. With the helicopter not owned by him,only landed properties remain. To go for sale of securities, banks have to approach Securitisation and Reconstruction of Financial Assets and Enforcement of Securities (Sarfaesi) Act.

Even if Sarfaesi gives clearance, the offloading USL shares is not going to be simple. Once shares are offloaded in the market, the price may crash. Not more than 30% realisation from the collateral pledged will be realised.

Those bankers having brand as a collateral is finding brand as useless. Jet Airways has more or less finalized the deal with Etihad and bought off Kingfisher slots in India and abroad. On the wings is AirAsia –Tata JV after getting clearance from FIFB and waiting for DGCA clearance.

In this scenario Tiger Airways the Singapore airlines is now scouting for an Indian partner. AirAsia has said that it would introduce Rs 2000 fare for many destinations apart from Mumbai- Delhi route. This fare would be for advance booking only. The airlines banks on the mass bookings like for corporate meetings and weddings in India.

Sensex up 100 points in opening trade; Kingfisher up 5 per cent IBNLive Mumbai: Key equity benchmarks opened on a positive note, buoyed by gains in US stocks and Chinese exports beating forecast underpinning investor risk sentiment. The dollar rose to a fresh three-and-a-half-year peak against the yen and nudging up Asian... See all stories on this topic » IBNLive

PROPERTY NEWS: NZ's Great Lake Taupo's Kingfisher Project – over 55 ... New Straits Times POPULAR: A project by leading New Zealand property developer Globe Holdings,Kingfisher at Great Lake Taupo is a premier waterfront residential development that not only provides investors a chance for attractive upside investment returns but also ... See all stories on this topic » New Straits Times

Kingfisher girl Angela Jonsson shoots for India's first under water cover shoot! Apun Ka Choice Angela Jonsson became one of the hottest faces of the fashion world when she won the KingfisherCalendar Girl hunt and made a splash posing in bikinis for the calendar's 2011 issue. Now after gracing half a dozen magazine covers, the young lassie has ... See all stories on this topic »

Kingfisher checkmates Indian banks TruthDive Mumbai, Mar 7 (TruthDive) : Kingfisher has checkmated Indian banks, who are eagerly waiting to recover Rs 7,000 crore from Vijay Mallya's cash-strapped Airlines and are not sure about how to recover the value of the collateral pledged with them. The ... See all stories on this topic »

Kingfisher Given New $5.26 Price Target at Goldman Sachs (KGF) Zolmax Kingfisher (LON: KGF) had its target price boosted by Goldman Sachs from $5.11 (340 GBX) to $5.26 (350 GBX) in a report issued on Tuesday. They currently have a buy rating on the stock. A number of other analysts have also recently weighed in on KGF. See all stories on this topic »