VIJAY MALLYA, the Indian entrepreneur who recently paid the reported franchise fee of US$2 million for the Barbados Tridents in the Caribbean Premier League (CPL), and United Breweries Holdings (UBHL), the company he heads, have been declared “wilful defaulters” by three Indian state-owned banks.
According to the Indian media, the charge was laid last week by the Punjab National Bank (PNB), the United Bank of India (UBI) and the State Bank of India (SBI). UBHL stated last week it was “in consultations with its legal counsel” with a view to challenging the indictment in the Delhi high court.
It is not known what impact the matter might have on the 2016 CPL, scheduled for June and July. Damien O’Donohue, the chief executive officer, said at the players’ draft earlier this month the support of Mallya along with the Government was critical to the Tridents’ continuation. Efforts yesterday to contact him at his base in Ireland were unsuccessful.
The Indian Economist commented that Mallya was “known for his flamboyance and hosting lavish parties even when his companies have been declared defaulters by lenders”.
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