Jun 18, 2013, 03.47 PM | Source: CNBC-TV18
Uco Bank has slapped a loan recall notice on Reid & Taylor after it failed to repay over Rs 100 crore loan. IOB has classified both Reid & Taylor and S Kumars accounts as NPAs.
Early last month, UCO Bank, in an advertisement in national dailies, posted photograph of Nitin Kasliwal, chairman and managing director of S Kumars Nationwide ( SKNL ), who is the guarantor of the loan taken by its arm Reid & Taylor, and called him a defaulter.
At 12:57 hours IST, S Kumars Nationwide was quoting at Rs 4.50, down 1.32 percent.