Cash-strapped Kingfisher offered Rs 1650 crore by SBI?

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Kingfisher Airlines
New Delhi, Feb 22: State Bank of India (SBI) refused to confirm reports that it has offered cash-strapped Kingfisher airlines an aid of Rs 1650 crore due to client confidentiality.

Reports reveal that SBI has offered an aid of Rs 1650-crore relief package to Kingfisher Airlines.

"Air India is a government concern, what government does for Air India, it cannot do the same for a private airline," said Ajit Singh, civil aviation minister that the government could not do the same for a private airline and have not given a bailout package to Kingfisher airlines.

Sources reveal that the Income Tax department may defreeze the bank accounts of Kingfisher and the latter has agreed to pay its dues partially.

Kingfisher in 2011 owed Rs 53.8 crore to the IT-Department and Rs 100 crore for the year 2012. The airlines is expected to pay Rs 43 crore service tax dues by Mar 2012.

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