Strict Verdicts to Retrieve the Dues From Kingfisher Fugitive : Claims SBI

Strict Verdicts to Retrieve the Dues From Kingfisher Fugitive : Claims SBI

The largest lender (SBI) State Bank of India declared today there was no omission in the case of dealing with loan default by Vijay Malia, the absconder Kingfisher Airlines. SBI, the head lender of Kingfisher Airlines, has been suggested to move to the Supreme Court to prevent the fleeing of Vijay Mallya from the country, but they moved to the apex court after the four days of leaving off the notorious business tycoon.

While 13 banks urged to the apex court to interrupt in the matter of Kingfisher Airlines and stop this business tycoon from fleeing from the country, Vijay Mallya fled India in 2016, on 2nd March.

The leading lender bank told in a statement, “ State Bank Of India” denies that there has been any laxity on its part or its officials in dealing with loan default cases, including Kingfisher Airlines. Bank has been taking proactive and strong measures to recover the defaulted amounts.

Mallya is avoiding the legal procedures for reverting the loans more than the amount of 9,000 crores from the confederation of 17 banks.

To defend himself, Vijay Mallya claimed in an open letter that SBI and the others bank had lent him the amount of money knowing the critical financial situation of his company. He also claimed that for bank defaulting he has been accused and became ‘poster boy’ where the banks were also answerable for this reason.

The Supreme Court had undeniably questioned the banks that why they approved Mallya’s loans where he was already involved in defaulting case and was confronting the proceedings of law in the court.

by Haimantee Ghosh on September 14, 2018

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