SBI (State Bank of India) has said the consortium of lenders has recovered Rs 800-1,000 crore and is making all efforts to recover the remaining dues from beleaguered Vijay Mallya-led Kingfisher Airlines.
"KFA recoveries are going on. We have substantial amount of recoveries. Total recoveries for banks more than Rs 800-1000 crore," SBI Chairman Pratip Chaudhuri said. 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. Additionally, the consortium has a residual right over the securities held by Srei Infrastructure Finance, which comes to Rs 500 crore. Srei bought this from ICICI Bank in April last year. SBI has the maximum exposure, over Rs 1,600 crore in the Vijay Mallya-led airline as per a PTI report.
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