SBI writes off Vijay Mallya’s loan of Rs 1,200 cr

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Mumbai: Around Rs 1,200 crore loan given to the now grounded Kingfisher airlines has been written off of the accounts book of country’s largest public sector bank, the State Bank of India.

The bank, however, said removing Mallya’s debt from the books does not mean that it will stop pursuing the case. It has categorised the loan under the non-performig assets category — Advance Under Collection Accounts. Under AUCA, a loan can be written off of the books but the option of pursuing it still remains open.

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