UBHL tumbles over 10 pc as PNB dubs co as 'wilful defaulter'

Shares of United Breweries Holdings Ltd slumped over 10 per cent today as the company has been declared a "wilful defaulter" by the Punjab National Bank.
Reacting to this, the stock tanked 9.69 per cent to Rs 20.50 on BSE.
On NSE, it plunged 10.13 per cent to Rs 20.40.
The Vijay Mallya-led United Breweries Holdings Ltd today said it has been declared a "wilful defaulter" by PNB and the company is consulting lawyers to challenge the decision.
PNB through letter dated February 11 has declared the company a "wilful defaulter", United United Breweries Holdings Ltd (UBHL) said in a BSE filing, adding it received the letter on Monday.

On its future course of action, UBHL said: "The company is in consultation with its legal counsel to challenge the decision by taking appropriate legal action that may be required in this regard.