Vijay Mallya ought to Pay In full, Says Punjab countrywide financial institution chief

Vijay Mallya Must Pay In Full, Says Punjab National Bank Chief

New Delhi: dismissing Vijay Mallya’s provide of component charge of financial institution loans, Punjab country wide financial institution (PNB) on Wednesday stated he need to pay the overall amount and settle the dues.

“although we are not chief of the consortium, we need he have to pay complete,” PNB MD Usha Ananthasubramanian stated. PNB had an publicity of Rs 800 crore to the Mallya promoted Kingfisher airlines, which had to close shop below big debt burden and fee defaults.

A consortium of 17 banks led by way of kingdom financial institution of India remaining month had rejected the thought inside the cutting-edge form presented by way of liquor baron Vijay Mallya and his corporations to pay Rs 4,000 crore via September toward settlement of his mortgage before the best court docket.

Later, he revised the provide to Rs 6,868 crore to the supreme courtroom which changed into also rejected by using the banks.

Kingfisher airways has defaulted on loans of over Rs nine,four hundred crore obtained from diverse banks and Mr Mallya has left India for Britain where he’s staying together with his family.

speakme about steps taken by using PNB on wilful default, Ananthasubramanian stated many instances are pending before Debt healing Tribunal (DRT).

The bank through the assist of DRTs have impounded 250 passports of such wilful defaulters and 500 instances are earlier than various courts.

As of December, PNB has a list of about 900 wilful defaulters who together owe close to Rs eleven,000 crore to the lender.