With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank today said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of the plan.
“Bankers are going to meet within 15 days. Consensus (on liquidation or whatever action that bankers take) can emerge only when the company comes up with a credible plan,” said Pratip Chaudhuri, Chairman of State Bank of India having an exposure of Rs 1,600 crore not serviced since last January, to the troubled company.
He was speaking on the sidelines of a function attended by the Finance Minister P Chidambaram where he launched an infra debt fund from being run by IL&FS here this evening.
“They (KFA) made a presentation last time but we did not find that adequate,” Chaudhuri said.