5 June 2019: 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.”
TOI tried to reach Vijay Kalantri but he was not reachable. Dighi Port is being developed on the two banks of Rajpuri Creek as Maharashtra’s first private sector port with direct berthing facilities and modern cargo handling equipment. The corporate insolvency resolution process of Dighi Port was admitted by Mumbai Bench of NCLT in order dated March 25, 2018 and in May NCLT accepted the resolution plan submitted by JNPT for Dighi Port. Kalantri also heads Balaji Infra Projects, which is developing the port, and he is the Honorary Consul of the Consulate of Uzbekistan in India.