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RBI gets cracking; Guarantor to be tagged wilful defaulter if obligations not met

Mumbai: Tightening noose around loan defaulters, the Reserve Bank today said guarantors, who refuse to fulfil their obligations to banks despite having adequate resources, will also be treated as wilful defaulters. Once branded a wilful defaulter, a person or entity ...

Mallya to pursue legal action against 'wilful defaulter' tag

Bangalore: Declared a wilful defaulter by state-owned United Bank of India, UB group Chairman Vijay Mallya today disagreed with the action of the lender and said he would pursue legal action. "We were not given a hearing, we have not ...

Sebi seeks clarification on rival bids for Mallya group's MCFL

Mumbai: Market regulator Sebi has sought clarifications from two rival bidders who have made offers for acquisition of additional stakes in Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers Ltd (MCFL). The clarifications have been sought through merchant bankers of ...

SBI exploring ways to declare Mallya ‘wilful defaulter’

State Bank of India, which has an exposure of Rs. 1,600 crore to grounded airline Kingfisher, on Friday said it is exploring ways to declare the carrier's promoter Vijay Mallya as a ‘wilful defaulter'. "We are trying build a strong ...