IOC encashes Rs 50 cr bank guarantee
State-run Indian Oil Corp has encashed a Rs 50 crore bank guarantee after a cheque issued by Kingfisher Airlines towards fuel dues bounced.
The guarantees on deposits up to EUR 50,000 is more a psychological measure, the Bulgarian MP from the group of the leftist Coalition for Bulgaria and member of the Budget and Finance Commission Rumen Ovcharov said in an interview for FOCUS News Agency.