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‘Wilful defaulter’ KFA identified by UCO Bank

UCO Bank on Moday said that it has ‘identified’ Vijay Mallya-owned Kingfisher Airlines (KFA) as a ‘wilful defaulter’ and will be sending a notice to the defunct carrier. ‘We have identified KFA as a wilful defaulter. We are in the process of sending a notice to the company in this regard,’ said a source in the bank.

Other banks like State Bank of India and Punjab National Bank are also mulling this route. United Bank of India has already declared KFA a ‘wilful defaulter’ for defaulting a loan of Rs 350 crore. Beside KFA, UCO Bank will also send a notice to the company which had furnished a corporate guarantee for availing a loan of around Rs 450 crore.
PTI

PTI

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