Sounding pessimistic about the fate of its exposure to Kingfisher Airlines, State Bank of India Chairman Pratip Chaudhuri, on Wednesday, said solution to the airline’s problems was unlikely to come anytime soon.
“I think this is a difficult case, so nobody should expect a quick solution,” said Mr. Chaudhuri, whose bank has the largest (Rs.1,500 crore) exposure in the Rs.8,000-crore bank loans of the airline promoted by Vijay Mallya.
Mr. Chaudhuri was speaking to reporters on the sidelines of an event here.
He said more rounds of talks would be needed. “(Today’s meeting) has added an urgency to all the steps that have been taken, like unlocking the value of all the non-core assets of the airline,” he said.
He ruled out the possibility of topping-on the existing collaterals, stating there was nothing left with the promoters or the company to pledge.
“All the companies are largely pledged. I don’t know whether there is a room for topping on.”
