Kolkata: City-based UCO Bank has shot off notices to Vijay Mallya-owned Kingfisher Airlines and United Beverages after identifying the two firms as `wilful defaulters'.
"We have sent notices to the defunct carrier Kingfisher Airlines and United Beverages, which had given a corporate guarantee to the bank for availing of the loan", a source in UCO Bank said.
The source said the letter sought to explain the reasons behind identifying the two firms as `wilful defaulters', adding that time had been given to them for giving reply on why they should not be declared as `wilful defaulters' as per RBI guidelines.
The notices had been sent to the companies' corporate offices in Bangalore.
31/10/14 Economic Times
To Read the News in full at Source, Click the Headline
"We have sent notices to the defunct carrier Kingfisher Airlines and United Beverages, which had given a corporate guarantee to the bank for availing of the loan", a source in UCO Bank said.
The source said the letter sought to explain the reasons behind identifying the two firms as `wilful defaulters', adding that time had been given to them for giving reply on why they should not be declared as `wilful defaulters' as per RBI guidelines.
The notices had been sent to the companies' corporate offices in Bangalore.
31/10/14 Economic Times
