More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
The brand name was pledged to 14 lenders, including State Bank of India (SBI), under a debt recast agreement in which loans valuing Rs 6,500 crore were restructured and converted into equity.
Airline's lenders to meet next week to discuss next move.
Cars, towing machines, forklifts, tractors, fire extinguishers, and iron ladders will be e-auctioned.
The only caveat is that your will should be a simple one.
For the October-December quarter, Kingfisher reported a net loss of Rs 822.42 crore (Rs 8.22 billion).
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
Price has been fixed at Rs 85.3cr
The Karnataka High Court has rejected a petition by Vijay Mallya-led Kingfisher Airlines Limited challenging the move by a consortium of banks to take possession of its "Kingfisher House" property in Mumbai to realise part of the debts due to them from the airlines.
The lenders have not ruled out selling the property to recover part of their loans to the company.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
The airlines had pledged the trademarks as collateral with banks at the time of taking loans from them
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
The banks have asked the court to demand his return and to impound his passport.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Vijay Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder.
Market regulator in talks with SBI Caps, UTI Infra for scrutiny and auction of properties.
Banks are seeking an order that Mallya should appear in person before the court.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
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