UBHL tumbles over 11% as PNB dubs it 'wilful defaulter'

Shares of United Breweries Holdings Ltd tumbled over 11 per cent today as the company has been declared a "wilful defaulter" by Punjab National Bank.
The stock tanked 11.23 per cent to settle at Rs 20.15 on BSE. During the day, it had slumped 13.65 per cent to Rs 19.60.
At NSE, shares of the company fell sharply by 11.45 per cent to end at Rs 20.10.
Shares of United Breweries also fell by 2 per cent to Rs 787.20.
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.