#VijayMallya quits #Mangalore Chemicals and Fertilisers (#MCF) board pic.twitter.com/YOcM54UGET
— Press Release Watch (@PrReleaseWatch) December 1, 2014
UB Group promoter Vijay Mallya has stepped down from the board of Mangalore Chemicals and Fertilisers (MCF), according to a stock market notification.
According to RBI regulations, firms associated with “willful defaulters” are cut off lending by banks.Mallya was under pressure to quit due to ongoing "willful defaulter''proceedings initiated by lenders.
