Union Bank Of India Hits Builder With £2.1M Loan Repay Suit

By Bonnie Eslinger (September 6, 2021, 9:05 AM BST) -- A British subsidiary of Union Bank of India has sued a London builder for repayment of a £2.1 million ($3 million) loan and credit package.

Union Bank of India (UK) Ltd., a bank incorporated and registered in England and Wales, filed its High Court claim against Hayre Builders Ltd. and its director, Talwinder Singh Hayre, after the company defaulted on the terms of a 2016 credit facility agreement, according to particulars of claim filed on Aug. 12.

The package included a loan of £800,000 pounds ($1.1 million) and £1.3 million in overdraft credit for the "working capital requirements" of Hayre Builders, according to...

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