Kingfisher, I-T in talks over de-freezing accounts

Discussions are on between the Department and debt-ridden on lifting the freeze on the carrier's bank accounts, an I-T official said today.

"Discussions are on", a senior I-T official told PTI here on condition of anonymity.

"They are being discussed at an appropriate level", the official added but declined to go into details.

Kingfisher has been suffering from a severe cash crunch that has culminated into the authorities freezing its bank accounts last week on grounds of non-payment of tax dues.

The airline has blamed the freeze by the Department as the main reason for flight plan curtailment in the last few days, over which the aviation regulator DGCA has planned punitive action.

The airline has also sought fresh infusion of funds from 13-banks consortium led by State Bank of India to tide over the crisis.

image
Business Standard
177 22
Business Standard

Kingfisher, I-T in talks over de-freezing accounts

Press Trust of India  |  Bangalore 

Discussions are on between the Department and debt-ridden on lifting the freeze on the carrier's bank accounts, an I-T official said today.

"Discussions are on", a senior I-T official told PTI here on condition of anonymity.

"They are being discussed at an appropriate level", the official added but declined to go into details.

Kingfisher has been suffering from a severe cash crunch that has culminated into the authorities freezing its bank accounts last week on grounds of non-payment of tax dues.

The airline has blamed the freeze by the Department as the main reason for flight plan curtailment in the last few days, over which the aviation regulator DGCA has planned punitive action.

The airline has also sought fresh infusion of funds from 13-banks consortium led by State Bank of India to tide over the crisis.

RECOMMENDED FOR YOU

Kingfisher, I-T in talks over de-freezing accounts

Discussions are on between the Income Tax Department and debt-ridden Kingfisher Airlines on lifting the freeze on the carrier's bank accounts, an I-T official said today.

Discussions are on between the Department and debt-ridden on lifting the freeze on the carrier's bank accounts, an I-T official said today.

"Discussions are on", a senior I-T official told PTI here on condition of anonymity.

"They are being discussed at an appropriate level", the official added but declined to go into details.

Kingfisher has been suffering from a severe cash crunch that has culminated into the authorities freezing its bank accounts last week on grounds of non-payment of tax dues.

The airline has blamed the freeze by the Department as the main reason for flight plan curtailment in the last few days, over which the aviation regulator DGCA has planned punitive action.

The airline has also sought fresh infusion of funds from 13-banks consortium led by State Bank of India to tide over the crisis.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard