Uddhav criticises Maha govt over SICOM funding to Kingfisher | mumbai | Hindustan Times
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Uddhav criticises Maha govt over SICOM funding to Kingfisher

Shiv Sena executive president Uddhav Thackeray on Wednesday criticised the Maharashtra government for allowing SICOM, a non-banking financial institution in the state, to provide loan of Rs 400 crore to Kingfisher Airlines.

mumbai Updated: Nov 16, 2011 15:24 IST

Shiv Sena executive president Uddhav Thackeray on Wednesday criticised the Maharashtra government for allowing SICOM, a non-banking financial institution in the state, to provide loan of Rs 400 crore to Kingfisher Airlines.

"Vijay Mallya (chief of Kingfisher Airlines) says he has not asked for help. While newspaper reports say SICOM has given Rs 400 crore. Deputy chief minister Ajit Pawar says, the state government does not interfere in SICOM decisions. But, they must keep in mind that the money with SICOM belongs to the common man. The money should be given to the farmers," Uddhav told reporters.

"If the Centre and the state governments are so eager to bail out Kingfisher Airlines, why not nationalise the airline?," he asked.

Facing all-round attack from political parties, which are opposing any bailout for his airline, Mallya had on Tuesday said he had not asked for a bailout from the government, but wanted the lenders to help with Rs 700-800 crore working capital as short-term need and interest concession.