Declares owner Vijay Mallya as  wilful defaulter

Kolkata : City-based United Bank of India (UBI) has filed a winding up petition against Vijay Mallya- promoted Kingfisher Airlines for failing to retire loans amounting to Rs 336 crore, an official of the bank said. “We have filed winding up petition against three Mumbai- based companies, out of which Kingfisher Airlines is one,” the bank official told PTI. The other two companies were Spanco Limited (Rs 37 crore) and Arch Pharma (Rs 56 crore).

 All the three winding up petitions have been filed in the Bombay High Court recently, the official said. He also said that the bank had identified Vijay Mallya as a willful defaulter, along with Bipin Vohra of SPS Group. “We have identified both Mallya and Vohra as wilful defaulters and are initiating steps in that direction,” the official said.

The bank would have to satisfy certain RBI norms before declaring someone a wilful defaulter.

State Bank of India, which has an exposure of Rs 1,600 crore to grounded airline, had said earlier that it was also exploring ways to declare Mallya as a wilful defaulter. Once declared a wilful defaulter, the person would not be able to borrow in future and lose director-level positions in companies. Earlier, UBI had slapped winding up petition against REI Agro.

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