Vijay Mallya, Sahara Group refute striking any bailout deal for Kingfisher Airlines

Lucknow: The presence of Vijay Mallya, chairman of Kingfisher airlines, here today triggered speculation about a possible deal between him and the Sahara Group to bail out the beleaguered airlines.

Reports to this effect were promptly refuted by both sides.
“The limited purpose (for which I am here) is Sahara Force India,” Mallya told PTI referring to the board meeting of the new set up.
“There is absolutely nothing like it,” he said when asked whether he was in talks with Sahara chief Subroto Roy for pumping in money into his cash-strapped Kingfisher.
Sahara India’s corporate head Abhijit Sarkar also described the reports as “incorrect”. “There is no agreement and there are absolutely no talks on such issues. He (Mallya) is in Lucknow to attend the board meeting of Sahara Force India,” he said.
Ahead of last month’s inaugural Indian Grand Prix, the Sahara group and Mallya have got together. The Sahara Group had bought 42.5 per cent stake, worth $100 million, in the Vijay Mallya owned Force India F1 team, which was re-christened as Sahara Force India.
20/11/11 PTI/Economic Times

~ by anand213 on November 21, 2011.

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