Tag Archives: kingfisher case study

  I have written a couple of articles about Kingfisher defaults to bankers and income tax department. In continuation of Kingfisher saga, here is the update.   The Beginning It was started with Income Tax Department conducting a survey u/s 133A of I T Act, on the premises of Kingfisher …

The then Finance Minister P Chidambaram advised public sector banks to take action against Wilful defaulters, especially in the case where the ‘promoter is prosperous but the company is sick” As per RBI guidelines, a wilful default is deemed to have occurred if– (a) The unit has defaulted in meeting …