There is such a big news at taking over a Rs 100 crore property of Kingfisher in Mumbai by an SBI led consortium, now struggling to recover Rs. 6800 crores outstanding as non performing asset: given as loans.
Consortium of KFA bankers have invoked parent company’s corporate guarantee and demanded payment of Rs 64,932.900 million due from KFA.
The security given to
banks in lieu of NPA of King Fisher Airlines as culled out from reports in 2011 shows that the collaterals include an intangible asset called brand value; this is an unusual collateral: brand value is seldom used in India as security. :
Brand Value
|
4100.00
|
Personal guarantees
of Vijaya Malaya
|
248.97
|
Corporate
Guarantee of United Breweries
|
1601.43
|
Pooled
collateral guarantee
|
5238.59
|
Ground
Support Equipment
|
101.58
|
Computers
|
22.43
|
Furniture
and fixtures
|
33.35
|
One
aircraft
|
107.77
|
Total Security (A)
|
11454.12
|
Since then (2011) the salvage value may be
negligible for the following
|
|
Brand
Value(KFA stopped flying in October 2012.)
|
4100.00
|
Personal
guarantees of Vijaya Malaya
|
248.97
|
Ground
Support
|
101.58
|
Computers
|
22.43
|
Furniture
and fixtures
|
33.35
|
One
aircraft
|
107.77
|
Value of negligible savage value (B)
|
4614.1
|
Value now outstanding possibly (A) - (B)
|
6840.02
|
However, certain aircraft lessors and vendors of Kingfisher Airlines
Limited (KFA) have invoked the corporate guarantees given by the parent company
on behalf of KFA. The total amount invoked and outstanding as on March 31,
2014 was Rs. 15,275.400 million (Pr year
Rs. 9,874.600 million)
Consortium of KFA bankers have invoked parent company’s corporate guarantee and demanded payment of Rs 64,932.900 million due from KFA.
Where do the bankers stand in regard to the NPA with such dwindling and negative margin assets?
These are apprehensions in mind and bankers would have better responses!
Views expressed without any risk or responsibility
No comments:
Post a Comment