United Bank of India declares Vijay Mallya as wilful defaulter

September 01, 2014 13:03

State-run United Bank of India today became the first lender to declare debt-ridden Kingfisher Airlines and its promoter Vijay Mallya as wilful defaulters.

Post this declaration, these persons and the entity would not be able to borrow from the bank in future. They would also lose Director-level positions in companies. Criminal proceeding could also be initiated against these persons if warranted.

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