Lenders to Kingfisher on Wednesday demanded that promoter Vijay Mallya should himself explain the struggling carrier's revival plan as the company's top executives failed to convince them.

The group of 17 banks, which have a total debt exposure of around Rs. 7,500 crore, met Kingfisher executives in Mumbai to know how the carrier would revive and pay back the debt.

Kingfisher Airlines chief executive officer Sanjay Aggrawal and UB group chief financial officer A. K. Ravi Nedungadi gave presentations on the company's revival plans but could not impress the lenders.

One of the bankers who attended the meeting said, "We have requested that Chairman Vijay Mallya make a presentation on the detailed roadmap and then we can decide. We want more clarity as to how the business is moving forward."

Another banker said they would not grant any additional funds to Kingfisher unless promoter Mallya satisfied them with a concrete revival plan.

The bankers said they wanted Mallya to make a presentation by the end of this month, and warned that they were fast-tracking the process for valuing Kingfisher's non-core assets so that they could take a decision on whether to sell those assets to recover the money.

Kingfisher's net loss climbed from Rs 1,027 crore in 2010-11 to Rs 2,328 crore in 2011-12. As of March 31, 2012, the carrier was burdened with long-term and short-term borrowings of Rs 5,695 crore and Rs 2,335 crore respectively.

In case Mallya fials to impress bankers, they can auction the Mumbai-based Kingfisher House and the Goa-based Kingfisher Villa, which had been put as security towards the loans.