Top 30 loan defaulters owed banks Rs50,000-cr: RBI
22 November 2019
The Reserve Bank of India (RBI) has disclosed the names of 30 major wilful defaulters of bank loans, which included many well-known names such as Gitanjali Gems, Rotomac Global that have been delaying or not making repayment of bank loans.
These companies, or their promoters, owed banks around Rs50,000 crore, says an RBI list of defaulter obtained by the Wire news agency following an RTI application.
These companies and promoters have been slapped with cases by either the Central Bureau of Investigation or the Enforcement Directorate over the past five years, as per the RTI disclosure.
Other major companies that have defaulted on loan repayments include Zoom Developers, Deccan Chronicle Holdings, Winsome Diamonds, REI Agro, Siddhi Vinayak Logistics and Kudos Chemie, according to the RBI’s defaulter list.
RBI released a list of 30 major wilful defaulters, in response to a Right to Information (RTI) application filed by news portal The Wire in May 2019.
Banks have provided loans amounting to more than Rs50,000 crore to these 30 companies. This includes the amount banks have written off so far.
The ‘wilful defaulters’ list include:
Deccan Chronicle Holdings,
Siddhi Vinayak Logistics
Ruchi Soya Industries Ltd,
Kingfisher Airlines Ltd,
ABG Shipyard Ltd,
Forever Precious Jewellery and Diamonds Pvt Ltd,
Surya Vinayak Industries,
S Kumars Nationwide,
Gupta Coal India Pvt Ltd,
Indian Technomac Company,
Shree Ganesh Jewellery House,
Coastal Projects Ltd,
Hanung Toys and Textiles,
First Leasing Co of India Ltd,
Concast Steel and Power,
Action Ispat and Power Private Ltd
Diamond Power Infrastructure.
The list given by the RBI is sourced from the Central Repository of Information on Large Credits (CRILC) which is a centralised banking database. Starting February this year, the option to list borrowers as wilful defaulters was given to banks.