Kingfisher lenders plan to sell R6,500-cr USL shares

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SummaryBankers say they will sell R6,500 crore worth of shares of United Spirits to recover Kingfisher Airlines dues.

the court or in debt recovery tribunals or come to the banks with a settlement proposal. If the company takes the legal route it is possible that the recovery may take a significant amount of time,” the banker said.

On Tuesday, representatives from the consortium of lenders had met with the airline management and had come to the conclusion that they will not be giving KFA any more time.

“The consortium felt that this is a dead end and it is time for terminating the relationship,” Acharya had said after meeting with the management.

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