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Airlines run into audit red-flags over 'going concern' status

Last Updated: Sunday, August 17, 2014, 19:38

Amid continuing difficulties in airline space to generate profits and raise funds, independent auditors of at least two Indian carriers have raised red-flags over their 'going concern' status claims.

PSU banks may soon begin process to declare KFA wilful defaulter

Last Updated: Wednesday, August 13, 2014, 00:11

Three major PSU banks SBI, PNB and IDBI may soon initiate the process to declare Kingfisher Airlines and others as wilful defaulters after the firms failed to service their debt, sources said.

Banking Secy asks banks to declare Kingfisher Airlines as wilful defaulter

Last Updated: Tuesday, August 12, 2014, 13:40

Banking Secretary Gurdial Singh Sandhu on Tuesday asked banks to take action against Kingfisher Airlines by declaring the airline as wilful defaulter

'Kingfisher Airlines, not IDBI Bank, under CBI scanner'

Last Updated: Tuesday, August 12, 2014, 13:19

State-owned IDBI Bank on Tuesday said it is not being probed by the CBI over the Rs 950-crore loan extended to now defunct Kingfisher Airlines but investigation was being carried out against the borrower.

CBI launches initial probe into IDBI loan to Kingfisher

Last Updated: Saturday, August 09, 2014, 21:15

The Central Bureau of Investigation (CBI) is investigating a loan made by state-run IDBI Bank Ltd to debt-laden Kingfisher Airlines worth 9.5 billion rupees (USD155.38 million), a police spokeswoman said on Saturday.

CBI probe into IDBI Bank loan to Kingfisher Airlines

Last Updated: Saturday, August 09, 2014, 17:34

The Central Bureau of Investigation (CBI) has served an inquiry notice on IDBI Bank over a loan of Rs 950 crore it extended to Vijay Mallya-led troubled airline Kingfisher Airlines, saying this extent of exposure was not bona fide.

United Bank to 'name and shame' wilful defaulters: Narang

Last Updated: Friday, July 18, 2014, 14:02

State-owned United Bank of India will soon embark upon process to 'name and shame' its wilful defaulters as part of its effort to recover dues.

Kingfisher Airlines is the nation's biggest defaulter: Report

Last Updated: Thursday, July 17, 2014, 14:02

Kingfisher Airlines has emerged as the country's biggest defaulter as per a report published Thursday by a leading English daily.

KFA dues: Service Tax Dept seeks its share from banks' pie

Last Updated: Tuesday, July 15, 2014, 20:06

Unable to recover over Rs 50 crore dues from Kingfisher Airlines, the services tax department has moved courts to get a share from sale of securities being undertaken by lenders.

UBI asks Mallya, Kingfisher directors to appear on July 9

Last Updated: Sunday, June 29, 2014, 11:11

UBI was the first among other banks in the country to take such a stern step against the grounded airline.

UBI slaps petition against Kingfisher Airlines

Last Updated: Thursday, May 29, 2014, 18:08

City-based United Bank of India (UBI) has filed a winding up petition against Kingfisher Airlines for failing to retire loans amounting to Rs 336 crore.

Oneworld open to taking Indian carrier onboard

Last Updated: Sunday, May 04, 2014, 13:23

Global airlines grouping Oneworld has said it is open to taking on board an Indian carrier provided it complements other members and has high service standards like Kingfisher Airlines, which has now been grounded due to financial troubles.