Bank freezes farmer's accounts for being Mallya's 'guarantor'

World Saturday 21/May/2016 22:57 PM
By: Times News Service
Bank freezes farmer's accounts for being Mallya's 'guarantor'

Pilibhit (Uttar Pradesh): Manmohan Singh, a 54-year-old farmer of a nondescript village here, does not even know who Vijay Mallya is, but his banking facilities have been terminated for standing as "guarantor" for the business tycoon, who has defaulted on loan repayment and is facing money laundering charges.
Singh, a resident of Khajuria Naviram village under Bilsanda police station, was informed by Naand branch of Bank of Baroda (BOB) two days ago that his two accounts were being frozen for standing as "guarantor" for Mallya.
Acting on instructions of BOB regional office, Mumbai, Manager Mange Lal froze Singh's accounts, one having a deposit of Rs12,000 and the other Rs4,000.
Singh says, he does not even know Mallya or anything about his company."Leave alone Mallya or Kingfisher, I have never travelled to Mumbai or even Lucknow," he said.
The farmer said, he had taken a loan of Rs400,000 some two years ago for which he had submitted documents relating to his land with the bank.
Meanwhile, Lal said he has got fresh orders from the regional office and Singh's accounts are being restored with immediate effect.
Mallya's Kingfisher Airlines has been accused of defaulting on bank loans of over Rs94 billion.