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Kingfisher: Virat Kohli becomes victim of Vijay Mallya's sin

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Kohli and Vijay Mallya
New Delhi, May 8: Star cricketer of Team India and captain of Royal Challengers Bangalore (RCB) -- Virat Kohli experienced wrath of Kingfisher Airlines (KFA) employees for his association with Vijay Mallya.

The KFA employees, who have not received their salaries for months, protested against Kohli in Delhi airport on Tuesday, May 7. The protesters booed Kohli as he is the captain of RCB -- an IPL team owned by KFA Chairman Vijay Mallya.

Despite several promises and assurances, Mallya failed to make payments of the due salaries of the employees who have been struggling for their bread and butter.

Recently, Pratip Chaudhuri, Chairman of the State Bank of India (SBI), was quoted as saying, "KFA recoveries are going on. We have substantial amount of recoveries. Total recoveries for banks more than Rs 800-1000 crore."

"We are making all efforts. We have treated this loan 100 per cent provided for. It does not mean that we are not going after assets. We are going after all assets. The companies shareholding, the companies real estate, the personal assets, all are targeted," the SBI Chairman added.

The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore from the carrier. It has shares of listed entities like United Spirits as collateral which should realise Rs 500 crore. That apart, lenders have the brand Kingfisher as a security.

Earlier Mallya had sued the lenders to his grounded airline Kingfisher for selling a portion of the pledged shares of United Spirits (USL) worth Rs 100 crore.

OneIndia News

Story first published: Wednesday, May 8, 2013, 12:54 [IST]
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