 "Banks, NPA, IBC")
State-owned UCO Bank has declared Yashovardhan Birla a willful defaulter for failing to pay a Rs 67.65-crore loan taken by Birla Surya Ltd., a company in which the businessman is a director.
Kolkata-based UCO had given Birla Surya a credit limit of ₹100 crore. The company's present balance outstanding is ₹67.65 crore plus unapplied interest from the date it turned into a non-performing asset (NPA) on June 3, 2013.
“Due to non-repayment of dues to the bank, the account was declared NPA on 3 June, 2013. The borrower has not repaid the dues owed to the bank despite several notices.
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