Kingfisher and Mallya refute “wilful defaulter” charge

In a letter to the Bombay Stock Exchange (BSE), Kingfisher Airlines has said that it was wrongfully declared as a “wilful defaulter” by the state-run United Bank of India (UBI). The carrier had previously received a letter from BSE, seeking clarifications regarding the wilful defaulter tag given by the bank. The airline’s management, in the letter, further added that the company had filed for a special leave petition (SLP) in the Indian Supreme Court, but the petition became ‘infructuous’ – fruitless, or pointless – after UBI declared the company and its directors as wilful defaulters. “…despite pendency of the SLP