More Trouble For Mallya

Looks Kingfisher’s woes are far from being over. The Airports Authority of India (AAI) plans to initiate the process of seizing the airline’s promoter, Vijay Mallya’s personal aircraft if it lands in Delhi. Mallya, who is expected to be in Delhi for the Formula One races which is scheduled to be held in the outskirts later this week.

In addition, the state-owned airport operator will also write to the Directorate General of Civil Aviation (DGCA) asking it not to renew the airline’s operating licence till its outstanding dues of over Rs 250 crore have been settled. AAI aims to seek bank guarantees equal to the amount that is outstanding from the airline before allowing it to restart, a senior official involved with initiating action against Kingfisher told Business Line. “We have been given a free hand to act and will take appropriate action. Such a situation cannot be allowed to continue,” the official added.

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