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UCO Bank weighing options to send wilful notice to KFA

State-owned UCO Bank on Friday said that it was mulling options of sending wilful defaulter notice to debt-ridden Vijay Mallya-owned Kingfisher Airlines, which is now grounded.

“We are weighing the possibility of sending wilful defaulter notice to Kingfisher Airlines. The bank’s exposure to the company is Rs 400 crore,” CMD of UCO Bank Arun Kaul told reporters on the sidelines of CII Banking Colloquium here.

United Bank of India has already declared Kingfisher a wilful defaulter while SBI, PNB and IDBI have initiated such a move.

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