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SBI reveals names of 10 new wilful defaulters, an outstanding debt 1500 Crores

SBI reveals names of 10 wilful defaulters

State Bank of India (SBI) has released a list of 10 new wilful defaulters on Friday. This list includes many big companies of medicine, jewelry and power sector and their big officers. Most of these companies have an outstanding debt of about 1500 crores which have been sent by banks to repay their debts several times.

SBI noticed them repay the outstanding debt before the 15 July, if they are unable to do a legal action can be taken against them. Infrastructure and other industries are also involved in the list of wilful defaulters.

Wilful defaulters mean the people who have taken business loans but haven’t used that money in business and not repay the debt on time. If someone has taken a loan against any property and he/she sell that property without information to the bank that person also count in the list of wilful defaulters.

Spanco limited in the top of the list of wilful defaulters. The company has 347 crores outstanding debt. The office of the company in Godrej Coliseum, Sion, Mumbai. The director of the company Kapil Puri and his wife Kavita Puri lives nearby in Chembur.

The second defaulter in the list is Calyx Chemicals & Pharmaceuticals Ltd, Andheri East. The company has about 327 crores outstanding debt. And its directors are Smitesh C. Shah, Bharat S. Mehta, and Rajat I. Doshi

Raigad based Loha Ispaat LTD. has an outstanding debt of about 287 crore Rupees. The chairman and Managing director of the company is Rajesh Poddar.

Apart from these companies, the Bank has also revealed the name of other defaulters and also warns that do not do any kind of business with these companies and their directors as it could be subject to the legal recourse the SBI is planning in the matter.

Related: Things are changed from 1st July, No charges on NEFT and RTGS.

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