The United Bank of India on Monday declared the grounded Kingfisher Airlines and chairman Vijay Mallya a so-called 'wilful defaulter', making it the first bak to do so.
"We have declared Kingfisher Airlines, Vijay Mallya and a few other directors of the airline company as wilful defaulters," Deepak Narang, executive director of UBI, told Business Standard.
The move comes after the Calcutta High Court last week dismissed the grounded airline company's plea against the bank. Kingfisher Airlines had moved the court after the bank identified it as a wilful defaulter and asked Mallya to appear before its grievance redressal panel.
src:sify.com