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SBI Releases Names Of 10 Big Wilful Defaulters

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On Friday, the State Bank of India (SBI) revealed names of ten new big ticket firms and their officials and declared them as 'wilful defaulters.' These firms belong to pharmaceuticals, gems and jewellery, power and infrastructure sectors and are mainly based out of Mumbai.

These loan defaulters have pegged nearly Rs 1,500 crore and were given repeated reminders to clear their borrowings.

SBI Releases Names Of 10 Big Wilful Defaulters

 

The biggest public sector lender in the country also said that it will take legal action against the named defaulters if they fail to repay their dues with interest and other charges in the next 15 days.

According to the public notice issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade, the biggest defaulter on the list was Spanco Ltd (Sion, Mumbai) with an outstanding amount of Rs 347.3 crore. The top ten defaulters are:

Sl. No.FirmLocationDirectors/ChairmanAmount defaulted (Rs)
1Spanco LtdMumbaiKapil and Kavita Puri347.30 crore
2Calyx Chemicals & Pharmaceuticals LtdMumbaiSmitesh C. Shah, Bharat S. Mehta, Rajat I. Doshi327.81 crore
3Loha Ispaat LtdRaigadRajesh G. Poddar287.30 crore
4Auro Gold Jewellery Pvt. LtdMumbaiAmritlal G. Jain, Ritesh Jain229.05 crore
5Excel Metal Processors Pvt. LtdMumbaiImran Khan, Mohammed I. Khan61.26 crore
6Microcosm Infrastructure & Power Pvt LtdMumbaiHrishikesh Shah, Jaykishan Shah56.73 crore
7Metal Link Alloys Ltd (currently in liquidation)DamanBhavarlal M. Jain, Rajmal M. Jain, Mangilal G. Jain53.79 crore
8Resilient Auto India LtdMumbaiChetan R. Dhruv, Shirish J. Parekh32.71 crore
9Rangara Industries Pvt. LtdMumbaiAmin Rangara, Nizar Rangara, Malik Rangara, Daulataben Rangara29.51 crore
10Global Hi-Tech Industries LtdMumbaiNarayan P. Tekriwal27.80 crore

Read more about: sbi state bank of india
Story first published: Friday, June 28, 2019, 15:57 [IST]
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