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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. 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

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