Vijay Mallya: Suppressed 1,566 Crore Of IDBI Bank Has Been Declared A Willful Defaulter

IDBI Bank has announced Vijay Mallya as the defaulter in case of non-payment of the loan. IDBI Bank has issued a public notice regarding the non-payment of Rs 1,566 crore associated with Kingfisher Airlines. An old passport size photo of Mallya is provided on this notice.

The NPA Management Group of IDBI Bank issued the public notice with respect to being the willful defaulter of the now-inoperative Kingfisher Airlines. Kingfisher Airlines was the debtor, while Vijay Mallya was the guarantor and director.

Vijay Mallya, an accused in the bank fraud case, had fled to London in March 2016 during the investigation itself. In December 2018, the Westminster Court of London ruled to send Mallya to India.

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