Page 2 - Kingfisher Airlines

RBI fines Oriental Bank Rs 1.5 cr for delay in reporting KFA fraud

The aforesaid penalty is required to be paid within 14 days from the date of receipt of the RBI order

RBI fines PNB Rs 50 lakh for delay in reporting Kingfisher Airlines fraud

In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for delay in reporting fraud in an account

Two Airbus helicopters of Kingfisher Airlines auctioned for Rs 850 mn

The total reserve price for the two choppers was Rs 350 million, as per the sale proclamation document issued by the Debts Recovery Tribunal

SFIO conducting additional inquiries in Kingfisher Airlines case

The SFIO had red-flagged a slew of violations of companies law by Mallya, Kingfisher Airlines and officials

Sebi lens on now-defunct Kingfisher Airlines' directors

Capital market regulator Securities and Exchange Board of India (Sebi) plans to examine the role independent directors and potential conflict of interest at now defunct Kingfisher Airlines. The move comes after a report by Serious Fraud Investigation Office (SFIO) where it has alleged that the independent directors at Kingfisher Airlines didn't follow proper rules.SFIO, an enforcement agency for probing financial frauds, has submitted its report on the loan default by Vijay Mallya-promoted Kingfisher Airlines.Sources in know said that SFIO had shared its probe findings with all the concerned regulators, enforcement agencies and recommended course of action."We are looking into the allegations against individuals and related entities under the listing regulations. The report talks about serious lapses on disclosure and transparency front by the independent directors," said a person in know. We are conscious that the role of IDs in such cases is important, person added. The fraud ...

Kingfisher Airlines case: French plane maker asked to approach Karnataka HC

The Delhi High Court on Friday told Avion De Transport Regional Gie to approach the Karnataka High Court to seek permission to execute a $ 18 million UK court decree awarded against Kingfisher Airlines in favour of the French turbo aircraft supplier in 2012. Taking note of the November 2016 winding up order by the Karnataka High Court against the beleaguered airline, Justice Manmohan said that the foreign company must first comply with Section 446 of the Companies Act 1956 - which does not allow the continuation of pending proceedings against a company on whom a winding up order has been passed without seeking leave of that court.The $ 18 million decree by the Queen's Bench Division of the High Court of Justice in the UK is the result of a fallout over a deal signed between the two companies, where United Breweries was a corporate guarantor. A consortium of banks lead by State Bank of India have also intervened in the Delhi High Court execution petition, claiming first charge over ..

Any takers? Lenders to auction Kingfisher House in Mumbai, Goa villa today

Reserve prices for both properties owned by Mallya have been lowered after earlier failed attempts

Lenders cut reserve prices of KFA properties for March 6 auction

Kingfisher House is being auctioned for the fourth time

Not concerned with or connected to Kingfisher Airlines: UBL

CBI in its charge sheet said that the carrier diverted Rs 263 cr from Rs 900 cr IDBI loan for "personal use"

Karnataka HC orders winding up of Kingfisher Airlines Limited

Since KFA did not pay up dues to Aerotron, the court was ordering winding up of the airline company

Ex-KFA official gets 18-month jail in cheque bounce cases

Former Chief Financial Officer (CFO) of the grounded carrier Kingfisher Airlines Ltd, A Raghunathan, was today sentenced to 18-month imprisonment by a court here in connection with two cheque bounce cases filed against him and businessman Vijay Mallya by GMR Hyderabad International Airport Ltd. Third Special Court Magistrate M Krishna Rao also imposed Rs 20,000 fine in each case on Raghunathan after the latter appeared before the court. Earlier, on several occasions, the order on quantum of punishment had got adjourned as the warrant issued against Raghunathan was still pending. The court had on April 20 convicted Kingfisher Airlines, Mallya and Raghunathan, in connection with two cheque bounce cases involving Rs 50 lakh each, under relevant sections of the Negotiable Instruments Act. The matter relates to cheques issued by Kingfisher Airlines Ltd to GMR Hyderabad International Airport Ltd (GHIAL), which operates Rajiv Gandhi International Airport, towards charges for using the ...

Kingfisher's A Raghunathan gets 18-month jail sentence in cheque bounce case

The matter relates to cheques issued by Kingfisher Airlines to GMR Hyderabad International Airport towards charges for using the facilities at the airport for Kingfisher flights

CRISIL revises Kingfisher's loan rating to 'not meaningful'

CRISIL had rated bank facilities, including long-term loans, working capital loans and cash credit, valued at Rs 5,582 crore

Not liable to repay Rs 6,000 crore debt due to breach of terms: Kingfisher Airlines

As the lenders have breached terms & conditions of MDRA between both parties

DRT rejects KFA's plea against banks

The airline said the banks did not lend money on time for projects that could have helped in revival of the airline

Kingfisher Airlines executives can be jailed over loss of company accounts

A company has to maintain proper records of accounts, register and muster rolls under Companies Act and various labour laws

Lenders start valuation of Mallya's Kingfisher Villa

The process of arriving at a commercial value for the villa is likely to be completed in a few days, after which the lenders will put it on sale

Kingfisher Airlines, UBHL submit evidences before DRT

Tribunal is hearing applications filed by SBI which is seeking to recover debts of over Rs. 9,000 crores

Lenders begin process to take over Kingfisher Villa

The villa was mortgaged to the lenders while obtaining loans for the now defunct airliner

Lenders to revalue Kingfisher House, hope to sell it shortly

The Kingfisher House has a built-up area of over 17,000 sq ft