Have received dues settlement offer from Kingfisher: SBI

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Mumbai, March 31: Lenders to defunct Kingfisher Airlines said they have received an offer to settle loan from the company and they will examine the proposal.

“The consortium of banks led by SBI confirms receipt of an offer for settlement of dues from Kingfisher Airlines Ltd. The bank, along with other consortium members, will examine the same,” SBI said in a statement here.

The statement, however, did not disclose the amount Mallya has offered to repay to the banks.

Wednesday’s proposal for repayment in the Supreme Court was submitted by Mallya, Kingfisher, United Breweries (Holdings) Ltd and Kingfisher Finvest (India) Ltd.

A bench comprising Justices Kurian Joseph and R F Nariman allowed the consortium of banks a week’s time to respond to the proposal and posted the matter for further hearing on April 7.

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