State Bank of India Releases Names Of 10 Big Wilful Defaulters - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Monday, July 01, 2019

State Bank of India Releases Names Of 10 Big Wilful Defaulters


State Bank of India (SBI) revealed names of ten new big ticket firms and their officials and declared them as 'wilful defaulters.'

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. 

SBI Top 10 Big Wilful Defaulters List:

Sl. No.
Firm Name
Location
Directors/Chairman
Amount defaulted (Rs.)
1
Spanco
Mumbai
Kapil and Kavita Puri
347.30 crore
2
Calyx Chemicals & Pharmaceuticals
Mumbai
Smitesh C. Shah, Bharat S. Mehta, Rajat I. Doshi
327.81 crore
3
Loha Ispaat
Raigad
Rajesh G. Poddar
287.30 crore
4
Auro Gold Jewellery
Mumbai
Amritlal G. Jain, Ritesh Jain
229.05 crore
5
Excel Metal Processors
Mumbai
Imran Khan, Mohammed I. Khan
61.26 crore
6
Microcosm Infrastructure & Power
Mumbai
Hrishikesh Shah, Jaykishan Shah
56.73 crore
7
Metal Link Alloys
Daman
Bhavarlal M. Jain, Rajmal M. Jain, Mangilal G. Jain
53.79 crore
8
Resilient Auto India
Mumbai
Chetan R. Dhruv, Shirish J. Parekh
32.71 crore
9
Rangara Industries
Mumbai
Amin Rangara, Nizar Rangara, Malik Rangara, Daulataben Rangara
29.51 crore
10
Global Hi-Tech Industries
Mumbai
Narayan P. Tekriwal
27.80 crore

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.

State Bank of India Releases Names Of 10 Big Wilful Defaulters Reviewed by Investment Guru on July 01, 2019 Rating: 5 State Bank of India (SBI) revealed names of ten new big ticket firms and their officials and declared them as 'wilful defaulters.'...

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