Syndicate Bank sends notices to defaulters to reclaim Rs 95 cr
By Our Banking Bureau | 23 Dec 2002
“So far we have served 891 notices to wilful defaulters in different parts of the country under the non-performing assets ordinance,“ say bank sources. The bank has so far recovered Rs 2 crore from these defaulters and has seized the assets of eight companies in Bangalore and two in Faridabad under the ordinance.
“We are hopeful of recovering a major chunk of dues from the wilful defaulters,“ the sources add. Asked if any big corporate houses have been served the notice, they said: “As of now we have approached smaller companies.“
Till date, the Delhi zonal office has served 98 notices to the defaulters amounting to Rs 14 crore. Two companies in Faridabad, whose assets have been seized, are Vishnu Enterprises and Chandra Industries. They owe Rs 15.20 lakh and Rs 11.80 lakh, respectively, to the bank.
