The Reserve Bank of India has disclosed a list of India’s 30 major wilful defaulters, which included many well-known names such as Gitanjali Gems, Rotomac Global, Business Standard reported. All these companies, or their promoters, have been slapped with cases by either the Central Bureau of Investigation or the Enforcement Directorate over the past five years
Zoom Developers, Deccan Chronicle Holdings, Winsome Diamonds, REI Agro, Siddhi Vinayak Logistics and Kudos Chemie were among the other famous names included in the list, according to the report.
In response to a Right to Information (RTI) application filed by news portal The Wire in May 2019, the RBI has released a list of 30 major wilful defaulters, noted the report.
Total funded advances outstanding to these 30 companies – along with the amount the banks have written off so far – adds up to over Rs 50,000 crore, noted the report.
The other ‘wilful defaulters’ include Ruchi Soya Industries Ltd, Kingfisher Airlines Ltd, ABG Shipyard Ltd, Forever Precious Jewellery and Diamonds Pvt Ltd, Surya Vinayak Industries, S Kumars Nationwide, Gili India, VMC Systems, Gupta Coal India Pvt Ltd, Nakshatra Brands, Indian Technomac Company, Shree Ganesh Jewellery House, Jain Infraprojects, Surya Pharmaceutical, Nakoda Ltd, KS Oils, Coastal Projects Ltd, Hanung Toys and Textiles, First Leasing Co of India Ltd, Concast Steel and Power, Action Ispat and Power Private Ltd and Diamond Power Infrastructure.
First Published: IST