Sep 19, 2014 at 18:05 | Source: PTI
Kingfisher Airlines and directors declared as wilful defaulters would not be able to borrow from banks in the future. They would also lose director-level positions in companies and criminal proceeding could be initiated against them, if warranted, to recover the money.
Sep 18, 2014 at 16:31 | Source: PTI
Apart from Kingfisher Airlines and UB Engineering, BSE will shift another 25 companies including Arihants Securities, Birla Pacific Medspa, Pretto Leather Industries and Best & Crompton Engineering to the restricted trade category.
Sep 18, 2014 at 08:24 | Source: CNBC-TV18
Sun Pharma | Ranbaxy Labs | NCC | SPML Infra | Chambal Fertilizers | YES Bank | GTL Infrastructure | Apollo Tyres | Samruddhi Realty | Mirc Electronics | MCX India and Jet Airways are stocks, which are in the news today.
Sep 17, 2014 at 16:15 | Source: PTI
Earlier this month, United Bank of India had declared Kingfisher Airlines, its promoter Vijay Mallya and three other directors as wilful defaulter citing alleged diversion of funds.
Sep 15, 2014 at 13:49 | Source: CNBC-TV18
The bank does not hold large portfolios of stress and aims to bring down its non-performing assets (NPAs) and non-performing loans (NPLs) going ahead.
Sep 14, 2014 at 16:08 | Source: PTI
Stories of Kingfisher Airlines and Bhushan Steel are only now emerging in trickles. The amount that has gone into corporate debt restructuring is another story; it contains all the marquee names, he said.
Sep 11, 2014 at 11:10 | Source: CNBC-TV18
The Gujarat High Court on Wednesday had partially struck down the earlier RBI circular on wilful defaulters calling the restrictions imposed on directors as "arbitrary and unreasonable." But the amended RBI circular states that guarantors, who refuse to fulfil obligations despite having resources, will also be treated as wilful defaulters.
Sep 10, 2014 at 18:04 | Source: Moneycontrol.com
RBI's master circular on wilful default list siphoning of funds, misrepresentation/falsification of records and fraudulent entry of transactions and restricts all directors of defaulting companies from banking services for any other ventures for five years.
Sep 10, 2014 at 15:28 | Source: Moneycontrol.com
D Narang, Executive Director of United Bank of India, which declared Kingfisher Airlines and its promoter Vijay Mallya wilful defaulter, said the bank has already served notice to UB Holdings.
Sep 10, 2014 at 12:04 | Source: CNBC-TV18
RBI has issued clarification on 'wilful defaulter' tag wherein it allowed banks to include key executives in the management as defaulters too. The central bank also wants banks to name non-group entities as wilful defaulters if they have given guarantees and dont pay up when the original party defaults.