“The names will be sent to RBI and credit information companies shortly and they will not be allowed to raise funds for five years,” a banker has been quoted as saying by the newspaper.
“The names will be sent to RBI and credit information companies shortly and they will not be allowed to raise funds for five years,” a banker has been quoted as saying by the newspaper.
SBI has written that the bank’s grievance redressal committee has considered the legal representation of Mallya and has found it to be unsatisfactory, reports the daily.
In August last year, SBI had sent a notice to Kingfisher Airlines and had given time to represent its case.
The airline moved the Bombay High Court and the matter was finally resolved in September when the Supreme Court allowed Mallya’s lawyers to be present at the grievance redressal committee meetings.
Kingfisher Airlines, which has been grounded since 2012, has dues of over INR 7,000 crore to a consortium of 17 banks. SBI’s share is estimated to be the largest at Rs. 1,600 crore.
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