CEO Fired

Phaneesh Murthy poses during the World Economic Forum (WEF) in Davos, January 26, 2013. REUTERS/Denis Balibouse/Files

iGate sacks CEO Phaneesh Murthy

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Kingfisher falls as lenders to initiate loan recovery

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A passenger walks past a near-empty Kingfisher airlines ticketing office at Mumbai's domestic airport March 27, 2012. REUTERS/Vivek Prakash/Files

A passenger walks past a near-empty Kingfisher airlines ticketing office at Mumbai's domestic airport March 27, 2012.

Credit: Reuters/Vivek Prakash/Files

MUMBAI | Wed Feb 13, 2013 9:33am IST

MUMBAI (Reuters) - Shares in Kingfisher Airlines (KING.NS) fell to the maximum daily limit of 5 percent on Wednesday after lenders said they would initiate recovery proceedings against the defaulting carrier.

Shares were down 5 percent at 10.55 rupees.

(Reporting by Manoj Dharra; Editing by Anupama Dwivedi)
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