http://economictimes.indiatimes.com/news/economy/policy/supreme-court-cracks-the-whip-on-bank-npas-air-routes/articleshow/51016536.cms
http://timesofindia.indiatimes.com/business/india-business/PNB-names-Mallyas-firm-UB-Holdings-wilful-defaulter/articleshow/51016641.cms
Reports surfaced last week about Mallya, who also controls Force India F-1 team and IPL franchise Royal Challengers Bangalore, purchasing Barbados Tridents team in the West Indies for about $2 million franchisee fees. Mallya's interest in Caribbean cricket dates back to the mid-1990s when he sponsored the West Indies team, spicing up his good times branding.
India's defaulting business tycoons are under increasing pressure as the RBI is prompting lenders to be proactive in tackling mounting bad loans. The Supreme Court on Tuesday asked the RBI for a list of companies that are in default of bank loans of more than Rs 500 crore, or whose loans have been restructured under corporate debt restructuring schemes.
A consortium of 11 banks, led by SBI, has an overall exposure of Rs 6,203 crore to Kingfisher. PNB has an exposure of Rs 800 crore and SBI Rs 1,600 crore. Banks have been struggling to recover their dues from Kingfisher as they do not have much enforceable security.
http://timesofindia.indiatimes.com/business/india-business/PNB-names-Mallyas-firm-UB-Holdings-wilful-defaulter/articleshow/51016641.cms
Reports surfaced last week about Mallya, who also controls Force India F-1 team and IPL franchise Royal Challengers Bangalore, purchasing Barbados Tridents team in the West Indies for about $2 million franchisee fees. Mallya's interest in Caribbean cricket dates back to the mid-1990s when he sponsored the West Indies team, spicing up his good times branding.
India's defaulting business tycoons are under increasing pressure as the RBI is prompting lenders to be proactive in tackling mounting bad loans. The Supreme Court on Tuesday asked the RBI for a list of companies that are in default of bank loans of more than Rs 500 crore, or whose loans have been restructured under corporate debt restructuring schemes.
A consortium of 11 banks, led by SBI, has an overall exposure of Rs 6,203 crore to Kingfisher. PNB has an exposure of Rs 800 crore and SBI Rs 1,600 crore. Banks have been struggling to recover their dues from Kingfisher as they do not have much enforceable security.
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