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UBI files case against Kingfisher

img_0059United Bank of India has filed a winding up petition against Vijay Mallya-promoted Kingfisher Airlines for failing to retire loans amounting to Rs 336 crore. The bank has filed cases against two other entities in Mumbai too – Spanco (Rs 37 crore) and Arch Pharma (Rs 56 crore). The three winding up petitions have been filed in the Bombay High Court. An official of the bank said the bank has identified Vijay Mallya as a willful defaulter, along with Bipin Vohra of SPS Group. The State Bank of India had said earlier that it was also exploring ways to declare Mallya as a wilful defaulter. Once declared a wilful defaulter, the person would not be able to borrow in future and lose director-level positions in companies.

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