Income Tax department today freezed 19 more accounts of Kingfisher Airlines.
According to reports the department has recovered only Rs23 crore so far and the authorities will soon take a decision on attaching Kingfisher's properties. It is also likely to freeze UB Group Accounts as well.
The KFA management is making all efforts to get its bank account unfrozen and co-operating with the Income Tax Department over its pending issues, to ensure timely payment of salaries, start further recoveries of its aircraft and resume normalcy in operations, the spokesperson said.
In the past few weeks, the cash-strapped KFA's flight schedules were seriously affected on account of its pending problems with various government departments.
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According to reports the department has recovered only Rs23 crore so far and the authorities will soon take a decision on attaching Kingfisher's properties. It is also likely to freeze UB Group Accounts as well.
The KFA management is making all efforts to get its bank account unfrozen and co-operating with the Income Tax Department over its pending issues, to ensure timely payment of salaries, start further recoveries of its aircraft and resume normalcy in operations, the spokesperson said.
In the past few weeks, the cash-strapped KFA's flight schedules were seriously affected on account of its pending problems with various government departments.
....more info