A syndicate of lenders, led by state-owned SBI, on Friday declined to give a no-objection certificate (NOC) to ailing Kingfisher Airlines’ plan to resume operations.

The top management Kingfisher Airlines held a meeting with the core group of lenders at the UB Group headquarters, seeking their approval for its revival plan, but the lenders asked for better commitments from the airline.

In October, Civil aviation regulator DGCA had suspended Kingfisher Airlines’ licence and asked its management to present a concrete revival plan. It had also asked the carrier to seek various stakeholders’ approval for the plan.

But, the carrier’s management failed to impress lenders with its revival plan, and the meeting remained inconclusive.

Sources said that the carrier submitted almost the same revival plan that it had tabled before the DGCA in December, and the plan was not acceptable to most of the lenders.

The 17-lender consortium had extended nearly Rs 7,000 crore in loans to the now grounded Kingfisher Airlines. SBI is the leading lender, with an exposure of Rs 1,500 crore to the grounded carrier.

Stock in Kingfisher Airlines slipped 2.7 per cent to close at Rs 14.40 a share on the National Stock Exchange (NSE) on Friday.