ED clears Rs.311cr to settle dues of Kingfisher staff
New Delhi, Dec. 19 -- The Enforcement Directorate (ED) on Thursday said it had cleared the release of Rs.311 crore of impounded assets that are to be used by the official liquidator of Kingfisher Airlines to pay long-pending dues of employees of the now defunct airline promoted by liquor baron Vijay Mallya.
ED said in a statement that it facilitated the restitution of Rs.311 crore after a December 12 order passed by the recovery officer, Debts Recovery Tribunal-I, Chennai, that directed the release of funds realised from the sale of attached shares which had been earlier restituted to State Bank of India (SBI) by the agency.
ED said on its facilitation, SBI had filed an application with the DRT offering the restituted assets for the dischar...
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