Kolkata: State-owned United Bank of India (UBI) has said it is making serious efforts to recover an estimated Rs.400 crore loans made to the now defunct Kingfisher Airlines.
The bank already has declared its guarantor, Vijay Mallya as a willful defaulter after the dues to the bank were not repaid.
In the recent AGM of the Kolkata headquartered bank, managing director and CEO P. Srinivas said: "We are fighting a legal battle against them (Kingfisher Airlines) beyond the consortium and we have already declared their corporate guarantor as willful defaulter."
He was responding to a query raised by a shareholder about the bank's stance with Kingfisher Airlines.
"We are extremely serious about recovering our money from not only this particular account but all the NPA borrowers," Srinivas said.
23/06/15 IANS/daijiworld
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The bank already has declared its guarantor, Vijay Mallya as a willful defaulter after the dues to the bank were not repaid.
In the recent AGM of the Kolkata headquartered bank, managing director and CEO P. Srinivas said: "We are fighting a legal battle against them (Kingfisher Airlines) beyond the consortium and we have already declared their corporate guarantor as willful defaulter."
He was responding to a query raised by a shareholder about the bank's stance with Kingfisher Airlines.
"We are extremely serious about recovering our money from not only this particular account but all the NPA borrowers," Srinivas said.
23/06/15 IANS/daijiworld
