In an attempt to speed up the wilful defaulter classification for Kingfisher Airlines, State Bank of India (SBI) has written to Vijay Mallya asking him to appear before it for a personal hearing. Sources told FE that after the wilful defaulter notice was issued to Kingfisher on August 19 last year, the company put forth objections to the notice but Mallya had not appeared for a hearing.
According to Reserve Bank of India (RBI) guidelines, a borrower can be classified a wilful defaulter after a personal hearing before a lenders’ committee comprising an executive director and two other senior officers of the rank of general manager or deputy general manager.
12/06/15 Financial Express
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According to Reserve Bank of India (RBI) guidelines, a borrower can be classified a wilful defaulter after a personal hearing before a lenders’ committee comprising an executive director and two other senior officers of the rank of general manager or deputy general manager.
12/06/15 Financial Express
