A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw issued notice to the airline and the central government seeking their replies within a week on PNB's plea.
Govt renews search for five PSU bank chiefs; norms relaxed.
Bank claims it wasn't quizzed by CBI, only financial information was sought.
.jpg)
The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent despite inflation based on the Wholesale Price Index coming down to a 5-year low of 1.77 per cent in October.
UCO Bank will not allow Kingfisher Airlines to be represented by lawyers in the wilful default case hearing.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
Mallya will now be the Founder Emeritus of USL
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
Adopting a wait- and-watch approach ahead of US Fed meeting
Several of his lenders have a lot to answer for.
At a hurriedly convened press conference, the former Uttar Pradesh said, "All deposits are as per norms and party rules and the money was collected before note ban. Should we have thrown it?"
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Poddar-Mallya agreement on running MCF likely to be re-worked.
During the first quarter ended June, 2014-15 fiscal, LIC earned a total premium of Rs 14,016 crore.
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
Force India co-owner Vijay Mallya has rejected speculation about his Formula One team's finances, saying they will be racing for years to come.
Having turned around by posting profits for the last three years, United Bank of India is mulling returning the government capital worth Rs 800 crore and said there was no financial compulsion for it to go for an initial public offer.
.jpg)
After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
United Bank of India on Tuesday said it has reduced the interest rate on its education loan upto Rs 200,000 from ten per cent to nine per cent effective May 1.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
At the beginning of this year, his stake in the airline stood at 30.14%.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
The other two companies were Spanco Limited (Rs 37 crore or Rs 370 million) and Arch Pharma (Rs 56 crore or Rs 560 million).
The United Bank of India has decided to reduce by 25 to 50 basis points the interest rates on domestic term deposits of various tenures which would come into effect from December 8.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
Companies think they are too big to bow before regulators.
United Bank of India on Friday said it had decided to bring down interest rates on domestic term deposits of various tenures by 25 to 50 basis points with effect from Saturday.
Bad loans of PSU banks rose by 28.5 per cent.
India and Pakistan are working on allowing three banks to set up branches on each other's soil to help improve trade relations.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances