Supreme Court refuses Vijay Mallya\\\'s plea against United Bank of India\\\'s decision

The Supreme Court has refused to accede to Vijay Mallya's plea to strike down state-run United Bank of India's (UBI) decision to declare him a willful defaulter, dealing a blow to the former liquor baron who has been fending off banks from recovering money they once lent to his now defunct Kingfisher AirlinesBSE 5.02 %. A two judge bench of the top court on Tuesday summarily waived off Kingfisher's objections that its chairman Mallya was declared a ‘willful defaulter’ by the United Bank of India's Grievance Redressal Committee without his lawyer being heard during the proceedings. The bench, comprising Justices AR Dave and UU Lalit said the objections were now of no consequence as the order declaring him a willful defaulter had already been passed. The company could, however, challenge the declaration in appropriate proceedings, the court hinted. Kingfisher's lawyer Parag Tripathi said the company was facing financial problems, but wasn't by any stretch a willful defaulter, according to indiatimes.com