Promoters face Kingfisher Airlines exit if pledged shares sold

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Promoters face Kingfisher Airlines exit if pledged shares sold. (Reuters) Promoters face Kingfisher Airlines exit if pledged shares sold. (Reuters)
SummaryUnfortunately lenders will not be able to recover much as total value is pegged at only Rs 277 cr.

800 crore, Bank of India Rs 650 crore and Bank of Baroda Rs 550 crore. All the 17 banks have provided for their exposure to the airline and declared them as bad loans. The airline has not serviced the loan since January 2012.

While the airline is sitting on a debt of over Rs 7,500 crore in bank loans, accumulated losses and unpaid salaries, taxes, and vendor dues amount to over 10,000 crore.

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