Mallya to infuse Rs 425 cr into Kingfisher: SBI

safia@coastaldigest.com (PTI)
December 18, 2012
vijay_420

Mumbai, December 18: Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore 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.

SBI Deputy Managing Director for mid-corporates Shyamal Acharya, after a meeting with the top management of the airline here this evening, said Mallya, however, did not give any timeline for fund infusion or restart of the operations.

Apart from Mallya, from the airline's side the meeting was attended by group CFO Ravi Nedungadi and airline CEO Sanjay Agarwal, while the 17-member lenders were represented by mid-level managers.

Acharya also said Mallya did not ask for any fresh lending, saying the promised Rs 425 crore will come from his own resources. He also said that Mallya did not reveal the name of investors/airlines that he is in discussion with.

SBI has a non-standard exposure of Rs 1,500 crore to the carrier.

Acharya further said that lenders have constituted a group of representatives from SBI, PNB, BoB, Bank of India and IDBI Bank to discuss the limited operations, and the first meeting of the group may take place within a few days.


Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 25,2020

New Delhi, May 25: Mahindra Group Chairman Anand Mahindra on Monday said lockdown extensions are not just economically disastrous but also create another medical crisis.

While acknowledging that choices are not easy for policymakers, he said a lockdown extension will not help.

"Lockdown extensions aren't just economically disastrous, as I had tweeted earlier, but also create another medical crisis," Mahindra said in a tweet.

He was referring to an article that highlighted "the dangerous psychological effects of lockdowns & the huge risk of neglecting non-COVID patients".

Mahindra, who had earlier proposed a comprehensive lifting after 49 days of lockdown, further said, "The choices aren't easy for policy makers but a lockdown extension won't help".

He said, "The numbers (coronavirus cases) will continue to rise & the focus must be on rapid expansion of field hospital beds with oxygen lines".

He further said, "The army has enormous expertise in this".

On March 22, before the government announced nationwide lockdown, Mahindra had proposed such a move expressing concerns over reports that India was likely to have already reached stage 3 of coronavirus transmission.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 5,2020

Jammu and Kashmir, May 5: Awarding the prestigious Pulitzer Prize to three Indian photographers, the Pulitzer Board at Columbia University claimed that it was for their work in Kashmir as "India revoked its independence".

The award to Channi Anand, Mukhtar Khan and Dar Yasin in the feature photography category for their pictures for the Associated Press was announced on Monday.

The prizes, considered the most prestigious for US journalism, are associated with the university's Graduate School of Journalism where the judging is done and is announced, although this year it was done remotely.

Besides a certificate, the prizes carry a cash award of $15,000, except the public service category for which a gold medal is awarded.

The public service prize went to The Anchorage Daily News for a series that dealt with policing in Alaska state.

In making the award to the three, the Board said on its website that it was "for striking images of life in the contested territory of Kashmir as India revoked its independence, executed through a communications blackout".

Besides making the false claim about "independence" of Kashmir being "revoked", the board that includes several leading journalists did not explain how their photographs could have reached the AP within hours of the incidents recorded "through a communication blackout".

India's Central government only revoked Article 370 of the Constitution that gave Jammu and Kashmir a special status and it was not independent.

Indian journalists were allowed to operate in Kashmir, while only non-Indian journalists were barred.

The wording of the award announcement calls into question the credibility of the Pulitzer Board that gives out what are considered prestigious journalism awards.

The portfolio of pictures by the three on the Pulitzer web site included one of a masked person attacking a police vehicle and another of masked people with variants of the Kashmir flag, besides photos of mourners and protesters.

One of the finalists for the Pulitzer Prize for explanatory journalism was a reporter of Indian descent at The Los Angeles Times, Swetha Kannan, who was nominated for her work with two colleagues on the seas rising due to climate change.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 20,2020

Thiruvananthapuram, Apr 20: Kerala Chief Minister Pinarayi Vijayan on Sunday alleged that efforts were being made to undermine the achievements of the state government in its fight against Covid-19 and said he was "ignoring" them as it was not the time for controversies.

The Opposition Congress has been raising allegations that a US-based company had been entrusted with the task of collecting data regarding the virus-infected patients in the state, in violation of fundamental rights.

"Many developed nations are in awe of the achievements of Kerala in its fight against Covid-19 pandemic. This is the speciality of Kerala model," Vijayan said. Referring to the data collection charge levelled by the opposition parties, Vijayan said some were engaged in slandering the state government.

"Those who think that the government should not have a reputation for effectively handling the coronavirus outbreak are engaged in slandering the state government. It has happened before, it's happening now also. This is not the time to go behind controversies. People are watching and they will evaluate," Vijayan said in his weekly interactive programme 'Naam munnott'.

He said he had decided to ignore such controversies. The ward-level committees, set up by the government for the anti-coronavirus fight, was collecting information of those under home isolation, elderly persons and those at the risk of the disease using a questionnaire in this regard and upload it on the server of the private agency. The Congress has alleged that the data, collected through the government machinery, was being uploaded not on the government server but on that of the foreign company.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.