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United Breweries (Holdings) Ltd has informed BSE that Punjab National Bank has declared the company as a ‘willful defaulter’. Vijay Mallya-owned holding company is in consultation with its legal counsels to challenge the decision, the statement said. State Bank of India too had declared Mallya, Kingfisher Airlines and UB Holdings as willful defaullters for defaults on loans worth Rs. 7,000 crore.

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