These loans are fully guaranteed, mature between 35 years and 40 years, free of personal and corporateguarantees, and have low fixed interest rates of just under 3%.
After the notice for fixed assets, Kingfisher's lenders will send it another notice to invoke Mr. Mallya's personal guarantees and UB Group companies' corporateguarantees, of a combined value of 30 billion rupees, Mr. Acharya.
In recent years the defined type of behavior that could trigger these guarantees has expanded from fraud to, in some cases, a simple corporate bankruptcy filing.