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UBI summons Mallya

img_0098United Bank of India has asked Vijay Mallya and three other directors of grounded Kingfisher Airlines to appear before a panel of the bank at the head office here on 9 July 9. The recovery department of the bank has sent a letter to the company, asking chairman Vijay Mallya and three other directors to appear before the grievance redressal committee of the bank, the bank’s executive director Sanjay Arya said. He said they had been asked to appear so they could get a chance to defend themselves before the bank declares them a wilful defaulter. The bank had earlier sent a notice to Mallya and he was given 15 days time to give a reply. Subsequently, Mallya requested that he had something to say in this regard. UBI was the first among other banks in the country to take such a stern step against the grounded airline. The bank’s exposure to Kingfisher Airlines was around Rs 350 crore.

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