In a financial scandal evoking Nirav Modi and Vijay Mallya, a leading industrialist in Mumbai, who is well connected to the corridors of power, has been declared a “wilful defaulter” by the Bank of Baroda.
Vijay Goverdhandas Kalantri, chairman and managing director of Dighi Port, and his son Vishal Kalantri, a director of the port, owe approximately Rs 3,334 crore to a consortium of 16 Indian banks led by Bank of India, for loans given to develop the port.
The Bank of Baroda placed a public notice in a Mumbai newspaper on Sunday, 2 June, which states: “Notice is hereby given to the public at large that Vijaya Bank (now Bank of Baroda) has declared the following persons as wilful defaulters, in terms of the bank’s/RBI’s rules and regulations. 1) Dighi Port Limited , (borrower) 2) Vishal Vijay Kalantri, director and guarantor and 3) Vijay Goverdhandas Kalantri, director and guarantor. The bank has sent a suitable communication to the borrower/guarantor informing the decision of the bank to declare him/ them as a wilful defaulter. As permitted by the RBI, the bank publishes photos of the wilful defaulters for the information of the public at large.”
