UBI action against Kingfisher and Force India boss

City-based United Bank of India (UBI) has filed a winding up petition against Force India F1 boss Mr. Vijay Mallya's promoted Kingfisher Airlines for failing to retire loans amounting to Rs 336 crore, an official of the bank said.

“We have filed winding up petition against three Mumbai-based companies, out of which Kingfisher Airlines is one," the bank official said. The other two companies were Spanco Limited (Rs 37 crore) and Arch Pharma (Rs 56 crore).

All the three petitions have been filed in Bombay High Court recently, the official said, adding the bank has identified Mr. Vijay Mallya as a willful defaulter, along with Mr. Bipin Vohra of SPS Group.

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