According to reports, cleaning its balance sheets State Bank of India (SBI), known to be largest public sector bank in country, writes-off 63 wilful defaulters, who owe loans worth Rs 7,106.
SBI made this move after government announced demonetisation of higher-denomination notes to counter black money hoarder in India.
After demonetisation move bank waive Rs 1,201 crore loan wihch Vijay Mallya’s Kingfisher Airlines owe to bank.
Vijay Mallay’s Kingfisher Airlines tops the list of wilful defaulters, it owes highest amount of loan bank. KS Oil (Rs 596 crore), Surya Pharmaceuticals (Rs 526 crore), GET Power (Rs 400 crore) and SAI Info System (Rs 376 crore) are other prominent defaulters on the write-off list.
Earlier, the details of Loan extended to Vijay Mallya and Kingfisher Airlines were not disclosed by SBI saying that the matter is su-judice.
Mallya had left the country in march this year after banks moved to Apex Court to seize his assets.