Mumbai: A consortium led by State Bank of India has taken possession of Kingfisher House, the corporate office of now defunct Kingfisher Airlines which owes about 7,000 crore to the lenders.
A possession notice was pasted on gates of Kingfisher House in suburban Andheri. The property is valued at 93 crore, as per estimates
It may be noted that Kingfisher Airlines also failed to pay service tax collected from passengers to tax authorities.
The tax authorities are also a party to the assets of Kingfisher.
Sources said there are some issues with the Service Tax Department and the matter is before the court.
Therefore, sources said, it would be difficult to say how long it would take to recover the money from that asset.
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A possession notice was pasted on gates of Kingfisher House in suburban Andheri. The property is valued at 93 crore, as per estimates
It may be noted that Kingfisher Airlines also failed to pay service tax collected from passengers to tax authorities.
The tax authorities are also a party to the assets of Kingfisher.
Sources said there are some issues with the Service Tax Department and the matter is before the court.
Therefore, sources said, it would be difficult to say how long it would take to recover the money from that asset.
Visit Video News at Click Here http://newsmasthi.com/player.php?pid=51596
And Also More Movie and Political Video News at Click Here Newsmasthi
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