I-T is the new suitor for Kingfisher House

Bangalore: The I-T dept has repeated its claim after the Karnataka high court rejected a plea from the airline seeking to prevent its lenders from seizing the property
Even as Kingfisher Airlines wrangles with its lenders over its Kingfisher House property in Mumbai, the income-tax department has staked the first claim to the property based on its claim to dues of Rs 350 crore from the company.
The I-T department has issued an advertisement in newspapers saying any person transacting in the property would be held in violation of the second schedule of the Income-tax Act, 1961.
The I-T department has repeated its claim after the Karnataka high court rejected a plea from the airline seeking to prevent its lenders from seizing the property. SBICAP Trustee Company had last month moved to seize the property to recover some of its dues to the defaulting airline.
Read News In full 16/12/13 Business Standard