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Angry shareholders criticised the management for the poor state of the company at the Kingfisher Airlines’ AGM on Wednesday .
A shareholder said even FDI will not be able to rescue the airline because the management was inefficient.
“We need God’s blessings and good luck to sustain this company,” he said.
A few of the employees, who are also shareholders, said that when they raised the issue of non-payment of salaries for the last six months, the issue was sidestepped.
Wing Commander Raghuram, who is a vendor for the airline, said that in spite of several remainders, his dues of over Rs 45 lakh had not been cleared for the last three years.
The airline owed him about Rs 75 lakh and only about Rs 30 lakh had been paid so far.
He suggested to Mallya that the airline should either convert the dues into shares at a discounted price or offer him tickets in lieu of them.
Raghuram said he plans to form an association of vendors and file a winding up petition in the court against the airline.
A shareholder, who holds about 50,000 shares of the airline, said he picked up the shares on the basis of the confidence he had in Mallya.
But he now feels cheated, he remarked.
> giriprakash.k@thehindu.co.in
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