Cricket

BPCL (jet fuel) sued Kingfisher Airlines (KFA)for $60 million in past dues. Indian Oil Corp cashed KFA's bank guarantee of $10 million after KFA bounced a post dated cheque. AAI (Airport Authority of India) wants KFA to pay cash for landing and parking planes because KFA owes AAI $30 million, which is $10 million more than the bank guarantee. The KFA promoters borrowing money from Indian banks against a personal guarantee of $400 million which is worth less than the paper it is written on. Air India wants employees to take 2 years leave without pay or allowance but will continue to underwrites its cricket team.