Notices have been issued to the company for penal damages.
Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.
The company had dent of about Rs 14,070 crore.
Airline's lenders to meet next week to discuss next move.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
The agency is looking at alleged "diversion of funds and financial reporting frauds".
Fugitive businessman Vijay Mallya responds to criticism of his investment in Royal Challengers Bangalore (RCB) after the franchise was sold for nearly USD 2 billion.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
New Delhi District Consumer Disputes Redressal Forum, presided by C K Chaturvedi, asked the company to pay Rs 45,792 to Delhi-based family comprising Sandeep Sharma, Navdeep Sharma, Monika Sharma and Poonam Sharma.
DIAL has filed four cases in June 2012 against Mallya over KFA's cheques totalling Rs 7.5 crore not being honoured.
A total of 17 cases have been filed against Kingfisher Airlines in different courts over outstanding amount of Rs 22.5 crore, which it owes to GMR
Kingfisher Airlines Ltd's problems are set to worsen. Delhi International Airport Ltd (DIAL) has filed a cheque bouncing case against the cash-strapped airline and its top management after three cheques, with a total value of Rs 3 crore, bounced.
Kingfisher Chief Executive Sanjay Aggarwal met officials at the ministry of civil aviation to discuss the revival plan, which was earlier rejected by the regulator.
Currently, Kingfisher offers international flights to just London and Colombo, Kingfisher Airlines Ltd vice-president (Global Sales) Siva Ramachandran said, adding that there is a proposal for including destinations like Singapore, Hong Kong, Bangkok, Kuala Lumpur, Dhaka, Dubai and Maldives.
With promoters unable to raise money, airline may find it difficult to sustain curtailed operations.
The airline needs at least Rs 1,000 crore to fly again.
India does not have a formal bankruptcy process. Liquidation pleas could take years before a final verdict.
The charge sheet has now paved way for the CBI to approach authorities in the UK for deportation of Mallya.
The matter relates to cheques issued by Kingfisher Airlines to GMR Hyderabad International Airport Ltd, which operates Rajiv Gandhi International Airport, towards charges for using the facilities at the airport for Kingfisher Airlines flights
The CBI has launched an initial probe over the loan against both companies, a spokeswoman for the agency said on Saturday.
Kingfisher Airlines Ltd has been directed by the Delhi High Court to pay Rs 52.61 lakh to a pilot.
A case has been filed against the airline in Nampally criminal courts in Hyderabad.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
The court had earlier issued non-bailable warrants against Kingfisher Airlines, its chairman Mallya and A Raghunathan, on the ground of dishonouring the two cheques
HPCL is the largest supplier of jet fuel to Kingfisher.
The order on the quantum of punishment was adjourned for the fourth time.
Banks who had lend to Kingfisher Air are finding it difficult to recover dues.
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act
The lenders have not ruled out selling the property to recover part of their loans to the company.
It had issued warrants directing the police to produce Mallya before it.
The lawsuits filed for recovering dues of Rs 300 crore from Kingfisher Airlines is exclusive of payments guarantees given by banks.
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
RTI activist Anil Galgali had asked SBI about the total amount of loans given to the beleaguered businessman.
The company's exposure relating to Kingfisher Airlines is under various accounts including corporate guarantees to banks.
The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.
In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE announced suspension of trading in shares of Kingfisher Airlines and another group firm, UB Engineering, from next month.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances