Sbi On Kingfisher

Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India (SBI), in their pursuit of debt related to his now-defunct Kingfisher Airlines.

The country's biggest lender State Bank of India (SBI) today said there was no laxity on its part in dealing with loan default by now defunct Kingfisher Airlines of fugitive liquor baron Vijay Mallya.

A luxurious beach front villa in Goa owned by absconding liquor baron Vijay Mallya has been sold to Bollywood and South Indian film actor Sachiin Joshi, by a group of banks led by State Bank of India, official sources said in Mumbai on Saturday.

Amid the controversy over public sector lender SBI reportedly writing off loans worth Rs 7,000 crore, including that of Vijay Mallya-promoted Kingfisher Airlines, a sanitation worker in Nashik has written to the SBI, seeking a 'similar' waiver of his Rs 1.5 lakh loan.

Around Rs 1,200 crore in dues owed by Vijay Mallya's collapsed Kingfisher Airlines has been labelled a write-off in the books of India's largest bank, the State Bank of India.

The Supreme Court on Monday asked a consortium of banks led by State Bank of India (SBI) to reply to liquor baron Vijay Mallya's plea seeking recall of an order asking him to disclose his assets.

The Kingfisher Airlines Limited, a holding company of Vijay Mallya, on Monday said it is not liable to repay over Rs 6,000 crore debt to the consortium of banks as the lenders have breached terms and conditions of Master Debt Restructuring Agreement between both parties, which caused needless damages to the firm's business.

A State Bank of India-led consortium of lenders on Thursday moved the Supreme Court with a fresh plea seeking initiation of contempt proceedings against Vijay Mallya, who is in the United Kingdom, alleging that he has not given the complete details of his assets as directed.

State Bank of India has expressed its inability to divulge details of loans given to Vijay Mallya and his now defunct Kingfisher Airlines in response to an RTI query, holding that the matter is sub-judice and being looked into by investigation agencies.

British liquor giant Diageo Plc on Thursday filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's March 7 order barring liquor baron Vijay Mallya from withdrawing $75 million exit buyout by it under a sweetheart deal till the disposal of SBI's case against him over loan default.

Lenders to the grounded Kingfisher Airlines on Friday started the process to take physical possession of Kingfisher Villa, which was pledged by beleaguered businessman Vijay Mallya to the bankers as collateral for over Rs 7,800-crore loan.

Amid a continuing debate on soaring bad loans of corporates, an SBI study on Monday sought to downplay the concerns over high debt levels of large business houses, including Adani Group, saying their aggregate borrowings were "well within the norms".

The ongoing thrust on the shipping sector will not help lenders with a revival in the asset quality, but can be of benefit over a longer period, State Bank of India chief Arundhati Bhattacharya said on Thursday.

In a stern warning to wilful defaulters like Vijay Mallya, Finance Minister Arun Jaitley said they should settle their dues honourably with the banks or else be ready to face "coercive action" by lenders and investigative agencies.

The advertisement comes at a time when state-run banks are under severe strain on account of rising bad loans. Non-performing assets, or bad loans, of public sector banks have increased by nearly Rs 1 lakh crore to Rs 3.6 lakh crore in the first nine months of the current fiscal.

Liquor tycoon Vijay Mallya was on Wednesday denied permission to appeal against a UK High Court order refusing to dismiss bankruptcy proceedings brought by a consortium of Indian banks led by the State Bank of India (SBI), in their pursuit of debt related to his now-defunct Kingfisher Airlines.

The country's biggest lender State Bank of India (SBI) today said there was no laxity on its part in dealing with loan default by now defunct Kingfisher Airlines of fugitive liquor baron Vijay Mallya.

A luxurious beach front villa in Goa owned by absconding liquor baron Vijay Mallya has been sold to Bollywood and South Indian film actor Sachiin Joshi, by a group of banks led by State Bank of India, official sources said in Mumbai on Saturday.

Amid the controversy over public sector lender SBI reportedly writing off loans worth Rs 7,000 crore, including that of Vijay Mallya-promoted Kingfisher Airlines, a sanitation worker in Nashik has written to the SBI, seeking a 'similar' waiver of his Rs 1.5 lakh loan.

Around Rs 1,200 crore in dues owed by Vijay Mallya's collapsed Kingfisher Airlines has been labelled a write-off in the books of India's largest bank, the State Bank of India.

The Supreme Court on Monday asked a consortium of banks led by State Bank of India (SBI) to reply to liquor baron Vijay Mallya's plea seeking recall of an order asking him to disclose his assets.

The Kingfisher Airlines Limited, a holding company of Vijay Mallya, on Monday said it is not liable to repay over Rs 6,000 crore debt to the consortium of banks as the lenders have breached terms and conditions of Master Debt Restructuring Agreement between both parties, which caused needless damages to the firm's business.

A State Bank of India-led consortium of lenders on Thursday moved the Supreme Court with a fresh plea seeking initiation of contempt proceedings against Vijay Mallya, who is in the United Kingdom, alleging that he has not given the complete details of his assets as directed.

State Bank of India has expressed its inability to divulge details of loans given to Vijay Mallya and his now defunct Kingfisher Airlines in response to an RTI query, holding that the matter is sub-judice and being looked into by investigation agencies.

British liquor giant Diageo Plc on Thursday filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's March 7 order barring liquor baron Vijay Mallya from withdrawing $75 million exit buyout by it under a sweetheart deal till the disposal of SBI's case against him over loan default.

Lenders to the grounded Kingfisher Airlines on Friday started the process to take physical possession of Kingfisher Villa, which was pledged by beleaguered businessman Vijay Mallya to the bankers as collateral for over Rs 7,800-crore loan.

Amid a continuing debate on soaring bad loans of corporates, an SBI study on Monday sought to downplay the concerns over high debt levels of large business houses, including Adani Group, saying their aggregate borrowings were "well within the norms".

The ongoing thrust on the shipping sector will not help lenders with a revival in the asset quality, but can be of benefit over a longer period, State Bank of India chief Arundhati Bhattacharya said on Thursday.

In a stern warning to wilful defaulters like Vijay Mallya, Finance Minister Arun Jaitley said they should settle their dues honourably with the banks or else be ready to face "coercive action" by lenders and investigative agencies.

The advertisement comes at a time when state-run banks are under severe strain on account of rising bad loans. Non-performing assets, or bad loans, of public sector banks have increased by nearly Rs 1 lakh crore to Rs 3.6 lakh crore in the first nine months of the current fiscal.