................... “First, we have to notify him. Then, he will respond. He has to be given a chance to appear before the grievance redressal committee. Thereafter, the issue can be taken to a court,” a UCO Bank official said. “We have asked for details of SBI’s forensic audit of Kingfisher to take a call,” he said. SBI has classified the bank as a defaulter, not a wilful one. A wilful default is a bigger criminal charge than a simple default. Once declared a wilful defaulter it is impossible to get any loans in future. So a downgrade in this case helps Mallya because he has a lesser crime to fight. Mallya is now involved in various cases against banks which are closing in to recover the huge loans..........
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