The United Breweries Group, which controls debt-ridden Kingfisher Airlines Ltd, said on Thursday that it has approached the Supreme Court on the summons issued to the airline by the Special Court for Economic Offences earlier in the day. The court had issued the summons to Kingfisher head Vijay Mallya on a complaint from the Income-Tax (I-T) Department on Tuesday that the company had not remitted Rs 74.94 crore which it deducted as tax deducted at source in 2009-10 from employee salaries. The I-T department also slapped on interest of Rs 23.70 crore on the airline for not meeting its deadline for payment. A UB Group spokesman said in a statement late on Thursday that the I-T department’s demand of Rs 74.94 crore on salary TDS has already been paid by the company to the tax authorities. Following various appeals against the I-T department’s tax demand, the company has approached the Supreme Court by means of a special leave petition and the hearing on the same has been posted

Citi  Bank already discontinues Jet Airways co-branded Credit Card 'The ICICI Bank Kingfisher Airlines credit card will be valid till March 31, 2013' Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier. “ICICI Bank and Kingfisher Airlines co-brand credit card programme has been discontinued due to discontinuation of Kingfisher Airlines services,” the bank said in a communication to its customers. “As a result, the ICICI Bank Kingfisher Airlines credit card will be valid till March 31, 2013,” it said, while asking the card users to opt for another credit card from the bank. The bank further said it will issue an ‘ICICI Bank Platinum Visa Credit Card’ to the users of ICICI-Kingfisher card without any annual fees from March 15 onwards with same interest rate and credit limit as that on the existing card. The customers would, however, be

If some Airlines Owners Cheats you it dosen't mean all are cheaters. Only few like Mr Subrata Sahara, Dr Vijay Mallya, Mr Gopal Goyal Kanda cheated rest all might be good businessman. One of the Biggest reason for Global Aviation Recession is few of defunc Airlines only.

Kingfisher Airlines Ltd.'s (532747.BY) lenders plan to soon start a process to sell 5 billion rupees ($93 million) worth of shares deposited by parent UB Group as collateral against loans. In the first of several planned moves likely to cause severe financial strain across the UB conglomerate, the lenders will sell shares in group companies Mangalore Chemicals and Fertilizers Ltd. (530011.BY) and United Spirits Ltd. (532432.BY), said a senior State Bank of India (500112.BY) executive. "Kingfisher had told us to wait as there was some money coming from the Diageo deal. That hasn't happened," Shyamal Acharya, deputy managing director at SBI, told The Wall Street Journal. He was referring to a United Spirits plan to sell a 53.4% stake to British liquor company Diageo PLC (DGE.LN) for up to $2 billion. Part of the proceeds were expected to come to Kingfisher, but the deal hasn't come through yet. Mr. Acharya separately said on television that a consortium o

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I sweep the skies with  Fire and Steel My highway is the cloud I swoop, I soar, aloft I wheel My engine laughing loud I fight with gleaming blades the wind ...That dares dispute my path I leave the howling storm behind I ride upon it's wrath. I laugh to see your tiny world Your toys of ships, your cars I rove an endless road unfurled Where the mile stones are the stars And far below, men wait and peer For what my coming brings I fill their quaking hearts with fear For death...is in my wings