Banks have already sold the pledged shares of Mangalore Chemicals and Fertilisers, realising around Rs 100 crore. Mallya and group companies have pledged over 97 per cent of the USL shares with various banks and others, which according to current market prices is worth over Rs 6,500 crore (Rs 65 billion).
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Lenders to Kingfisher Airlines said they are yet to hear from the grounded airline even as the deadline set by the bankers to bring in fresh equity of $1 billion ended.
As per the bank sources, senior-most MDs -- A Krishna kumar and Hemant Contractor -- are part of the committee.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
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