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.
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.||Firm||Location||Directors/Chairman||Amount defaulted (Rs)|
|1||Spanco Ltd||Mumbai||Kapil and Kavita Puri||347.30 crore|
|2||Calyx Chemicals & Pharmaceuticals Ltd||Mumbai||Smitesh C. Shah, Bharat S. Mehta, Rajat I. Doshi||327.81 crore|
|3||Loha Ispaat Ltd||Raigad||Rajesh G. Poddar||287.30 crore|
|4||Auro Gold Jewellery Pvt. Ltd||Mumbai||Amritlal G. Jain, Ritesh Jain||229.05 crore|
|5||Excel Metal Processors Pvt. Ltd||Mumbai||Imran Khan, Mohammed I. Khan||61.26 crore|
|6||Microcosm Infrastructure & Power Pvt Ltd||Mumbai||Hrishikesh Shah, Jaykishan Shah||56.73 crore|
|7||Metal Link Alloys Ltd (currently in liquidation)||Daman||Bhavarlal M. Jain, Rajmal M. Jain, Mangilal G. Jain||53.79 crore|
|8||Resilient Auto India Ltd||Mumbai||Chetan R. Dhruv, Shirish J. Parekh||32.71 crore|
|9||Rangara Industries Pvt. Ltd||Mumbai||Amin Rangara, Nizar Rangara, Malik Rangara, Daulataben Rangara||29.51 crore|
|10||Global Hi-Tech Industries Ltd||Mumbai||Narayan P. Tekriwal||27.80 crore|