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Mallya To Explore Legal Option Against ‘Wilful Defaulter’ Tag

BI India BureauSep 4, 2014, 18:18 IST

UB group chairman Vijay Mallya has said that he would pursue legal action against the ‘wilful defaulter’ tag.

“We were not given a hearing, we have not appeared before them, we disagree with their action and we shall pursue legal action. I have great faith in the judicial system of our country and as I have said, I will pursue the legal remedies that are available to me,” Mallya said after the annual general meeting of United Breweries.

United Bank of India declared Mallya ‘wilful defaulter’ on Monday as his company Kingfisher Airlines, which is now grounded, had allegedly diverted funds by opening multiple accounts.

United Bank of India is the first PSU bank to declare Mallya ‘wilful defaulter.’