{"id":480620,"date":"2022-03-31T10:14:49","date_gmt":"2022-03-31T04:44:49","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=480620"},"modified":"2022-03-31T11:14:47","modified_gmt":"2022-03-31T05:44:47","slug":"city-union-bank-marks-spicejet-sma-1-recalls-rs-100-crore-overdraft","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/city-union-bank-marks-spicejet-sma-1-recalls-rs-100-crore-overdraft\/","title":{"rendered":"City Union Bank marks SpiceJet SMA-1, recalls Rs 100-crore overdraft"},"content":{"rendered":"<p>Tamil Nadu-based City Union Bank has marked the account of low-cost carrier SpiceJet as special mention account-1 (SMA-1), while deciding to withdraw the Rs 100 crore bank overdraft facility extended to the airline.<\/p>\n<p>Lenders declare an account SMA-1 when interest or principals on loans are overdue for between 31 and 60 days.<\/p>\n<p>A SpiceJet spokesperson said, \u201cThe Rs 100 crore facility is fully secured and backed by a Rs 100 crore fixed deposit. There has never been a default in service of this facility.\u201d <\/p>\n<p>The move by City Union Bank moves follows SpiceJet\u2019s ongoing court case over a potential liquidation for non-payment of dues to Credit Suisse, and on account that the fixed deposit backing the Rs 100 crore facility was provisionally attached by the Enforcement Directorate in 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tamil Nadu-based City Union Bank has marked the account of low-cost carrier SpiceJet as special mention account-1 (SMA-1), while deciding to withdraw the Rs 100 crore bank overdraft facility extended to the airline. Lenders declare an account SMA-1 when interest or principals on loans are overdue for between 31 and 60 days. A SpiceJet spokesperson said, \u201cThe Rs 100 crore facility is fully secured and backed by a Rs 100 crore fixed deposit. There has never been a default in service of this facility.\u201d The move by City Union Bank moves follows SpiceJet\u2019s ongoing court case over a potential liquidation [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-480620","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=480620"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/480620\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=480620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=480620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=480620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}