Vijay Mallya's United Breweries auditors fear Kingfisher Airlines exposure

Vijay Mallya

UBHL in a filing to the BSE had yesterday said that guarantee commission arising out of corporate guarantee given and security commission from security pledged in favour of lenders of Kingfisher, has been reversed, not accounted for, in the current financial year, as the airline has been precluded from making payments by its bankers.

It further said certain corporate guarantees on behalf of KFA have been invoked. KFA is negotiating with the beneficiaries in this regard and has initiated steps to resume suspended commercial operations.

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