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.
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).
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 airlines had pledged the trademarks as collateral with banks at the time of taking loans from them
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.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
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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