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TOP INDIAN BUREAUCRACY NEWS | SARKARIMIRROR

TOP INDIAN BUREAUCRACY NEWS | SARKARIMIRROR

India’s top bureaucracy news portal, read the latest insider from the world of bureaucracy, politics, PSUs, defence and corporate, updated round the clock

  • About Us
    • Home
    • About Editor -in-Chief
  • INTERNATIONAL
    • International
  • Bureaucracy Updates
    • PSU
  • Current News
  • State
  • Corporate
  • Central Government Schemes
  • Latest News
  • Excl. Interviews
  • Post your coverages
  • About Editor -in-Chief
  • Converse with Tarun – Exclusive Video interviews
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Flash News

Deepak Gupta, appointed as Chairman & Managing Director, GAIL (India) Limited.

Sanjay Mangal, Chief Commissioner GST Meerut, appointed new Member of the CBIC

IRCON SIGNS MOU WITH TII FOR IMPLEMENTING INTEGRITY PACT

Rajesh Naik, GGM, RITES Limited, appointed as Director (Projects), IRCON International Limited.

Bala Kiran IAS Additional charge of Secretary, Examination extended.

Tuesday, February 17, 2026

Tag: since they recalled the loan in February 2013

UNION BANK OF INDIA ADMITS THAT NO LONGER IT EXPECTS RECOVERY OF ITS DUES FROM THE BELEAGUERED KINGFISHER AIRLINES
Corporate

UNION BANK OF INDIA ADMITS THAT NO LONGER IT EXPECTS RECOVERY OF ITS DUES FROM THE BELEAGUERED KINGFISHER AIRLINES

sarkarimirror May 24, 2015

State-owned United Bank Of India has become the first of the 17 lenders to publicly admit that it no longer expects to recover its dues from the beleaguered Kingfisher Airlines. Interestingly, … Read More

" he said. The bank had extended Rs 400 crore in a consortium lending when Kingfisher Airlines was still flying. The airline was grounded in October 2012. The airline" United Bank of India Managing Director and CEO P Srinivas told PTI. "But when you look at the total loan amount(Rs 150 crore)000 crore from Kingfisher Airlines out of their over Rs 7000 crore recovery) to a 17-lender consortium led by State Bank of India000 sqft-property at Vile Parle near the domestic terminal is valued at around Rs 100 crore. When the airline was flying smoothly500 crore exposure (excluding penal interest)500 crore now (after around Rs 1600 crore to the grounded airline. Other banks that have exposure to the airline include Punjab National Bank and IDBI Bank (Rs 800 crore each)after a protracted court battle. Over 17Bank of Baroda (Rs 550 crore)Bank of India (Rs 650 crore)by selling pledged shares in group companies. "NowCentral Bank of India (Rs 410 crore). Besideschallenged this tag in the court. The lenders have so far been able to recover just about Rs 1Corporation Bank (Rs 310 crore)Federal Bank (Rs 90 crore)howeverIndian Overseas Bank (Rs 140 crore)it had its loans restructured twice in three yearsnear the city airportnothing is happening on the Kingfisher account and we are not getting any amount. We may ultimately get a few more crores by selling that building (Kingfisher House in Mumbai) and other collateralsowes Rs 6owned by flamboyant Vijay MallyaPunjab & Sind Bank (Rs 60 crore) and Axis Bank (Rs 50 crore). This FebruarySBI had taken over the possession of the airline's prime property Kingfisher Housesince they recalled the loan in February 2013State Bank of MysoreState-owned United Bank Of India has become the first of the 17 lenders to publicly admit that it no longer expects to recover its dues from the beleaguered Kingfisher Airlines. Interestinglytagged as a wilful defaulter. Mallya and UB Groupthe chairman of Kingfisher Airlinesthe Kolkata-based lender was the first bank to attempt to get Vijay Mallyathe latest being in November 2011. The problems of the lenders get further confounded from the fact that they have practically got nothing substantial in collaterals.UCO Bank has to recover Rs 320 crorewe lost interest payment and we may be able to recover that much and the principal amount we may notwhat we may ultimately recover is just equivalent to interest component. In last two yearswhich has an exposure of Rs 1

Tarun Sharma, Editor-in- Chief

tarun sharma editor

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