Saturday, September 15, 2018

No laxity in dealing with loan default by Vijay Mallya’s Kingfisher Airlines, clarifies SBI

The State Bank of India (SBI) on Friday clarified that there was no laxity on its part in dealing with loan default by fugitive liquor baron Vijay Mallya’s Kingfisher Airlines.

The clarification from India’s biggest lender came after reports suggested that the bank, which was the lead lender to Kingfisher Airlines, was in February 2016 advised to move the Supreme Court to stop Mallya from fleeing the nation.
These media reports had also suggested that the lenders moved the apex court only after the tycoon had left the country four days later.

Vijay Mallya left the country on March 2, 2016 while 13 banks moved the apex court four days later seeking its intervention to prevent the businessman from leaving the country.
14/09/18 India TV