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Not liable to repay Rs 6,000 crore debt due to breach of terms: Kingfisher Airlines

Not liable to repay Rs 6,000 crore debt due to breach of terms: Kingfisher Airlines

The Kingfisher Airlines Limited, a holding company of Vijay Mallya, Monday said it is not liable to repay over Rs 6,000 crore debt to the consortium of banks as the lenders have breached terms and conditions of Master Debt Restructuring Agreement between both parties, which caused needless damages to the firm's business.

ED gathers pace on money laundering probe against Vijay Mallya; seeks details on overseas assets

ED gathers pace on money laundering probe against Vijay Mallya; seeks details on overseas assets

 As the money laundering probe against embattled liquor baron Vijay Mallya gathers pace, the Enforcement Directorate (ED) is preparing to issue Letters Rogatories (LRs) to a certain countries, including South Africa and the UK, for obtaining information on his overseas assets.

UBI ''serious'' to recover money from Kingfisher Airlines

In the recent AGM of the Kolkata headquartered bank, managing director and CEO P. Srinivas said: "We are fighting a legal battle against them (Kingfisher Airlines) beyond the consortium and we have already declared their corporate guarantor as willful defaulter."

Kingfisher Airlines seeks $236 million in damages from engine-maker

U.S.-based International Aero Engines, which is part owned by United Technologies Corp's Pratt & Whitney unit, was not immediately available for a comment.

Vijay Mallya blames all but himself for Kingfisher woes

In the airline's annual report (2012-13), he also mentions that the company is in talks with a "potential investor".

Auditors red-flag Kingfisher's revival plans

Grounded carrier Kingfisher Airlines' decision to consider it a 'going concern' entity, despite having accumulated huge losses and defaulted on loans, has come for a sharp criticism by its own auditors, given a lack of clarity about its revival plans.

Power supply at Kingfisher's head office snapped

The Qube, in suburban Andheri near the international airport is a commercial complex from where Kingfisher Airlines' operations are monitored.

More trouble ahead for Kingfisher Airlines

The department's decision to move a Special Leave Petition comes in the backdrop of the Airports Authority of India (AAI) also asking it to vacate two hangars in Kolkata and Chennai airports to recover dues worth Rs 293 crore, official sources said.