Vijay Malaya’s shares are not performing well in the market. The main reason for this is said to be the Vijay Malaya’s failure to pay debt to HPCL on time. Several Kingfisher airlines were grounded at airports in Delhi and Mumbai for at least an hour as Hindustan Petroleum Corporation Ltd (HPCL) refused to deliver fuel to the airline. According to official sources, Kingfisher airlines have to pay Rs 500 crore as oil dues to HPCL.

But, HPCL has refuted all allegations and told that there were minor issues with Kingfisher and that have been solved. Earlier also, BPCL, one of the other oil marketing company had filed a law suit against Kingfisher, as it did not pay its debt on time. The amount is said to be Rs 300 crore. BPCL recovered its amount in out-of–the court settlement. BPCL gave one year to Kingfisher Airlines to pay for the dues.

A source from Delhi International Airport disclosed that Vijay Malaya had to negotiate with the fuel suppliers. Then only flights resumed, but before that all passengers were de-planed and were taken to terminal. About eight to ten flights were delayed, and fuel was refilled in each of them. Flights resumed by 8pm.

Since long time, Kingfisher is trying hard to get investors for its airline, but they have not received positive response so far.