UCO Bank identifies Kingfisher Airlines as 'wilful defaulter'

Kolkata, Oct 27: City-based UCO Bank today said it has "identified" Vijay Mallya-owned Kingfisher Airlines (KFA) as a "wilful defaulter" and will be sending a notice to the defunct carrier.

"We have identified KFA as a wilful defaulter. We are in the process of sending a notice to the company in this regard", a source in the bank said.

Other banks like State Bank of India and Punjab National Bank are also mulling this route.

United Bank of India has already declared KFA a 'wilful defaulter' for defaulting a loan of Rs 350 crore.

Beside KFA, UCO Bank will also send a notice to the company which had furnished a corporate guarantee for availing a loan of around Rs 450 crore, the source said.

As per RBI guidelines, a wilful defaulter tag would be given if it is found that a loan taken is diverted for some other use rather than for which it was availed, as well as the default is made in spite of having the ability to repay it.

Comments

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

‘Profit’ trap: Mangaluru trader duped of ₹33.1 lakh in online App scam

News Network

December 7,2025

Mangaluru, Dec 7: A 34-year-old fruit and vegetable trader in Mangaluru has reportedly lost ₹33.1 lakh after falling victim to an online investment scam run through a fake mobile app.

Police said the scam began in September, when the victim received a link on Facebook. Clicking it connected him to a WhatsApp number, where an unidentified person introduced a high-return investment scheme and instructed him to download an app.

To build trust, the fraudster asked him to invest ₹30,000 on September 24. The trader soon received ₹34,000 as “profit,” convincing him the scheme was genuine. Over the next two months, he transferred money in multiple instalments via Google Pay and IMPS to different scanner codes and bank accounts shared by the scammers. Between September 24 and December 3, he ended up sending a total of ₹33.1 lakh.

When he later requested a refund of his investment and promised returns, the scammers demanded additional payments, claiming he needed to pay a “service tax” first. Even after he paid a small amount, no money was returned, and the scammers continued pressuring him for more.

A case has been registered at the CEN Crime Police Station.

Comments