Gitanjali Gems, Kingfisher Airlines, Ruchi Soya, Rotomac, Winsome Diamonds, KS Oils, Surya Pharmaceutical, ABG Shipyard and Sterling Oil Resources are among the top 33 wilful defaulters owing more than Rs 32,737 crore to public sector banks. The top defaulters have outstanding of Rs 500 crore and above.
The names of these firms figure in the list of 2426 defaulters having dues of more than
Rs 1,47,350 crore collectively. The list has been made public by the largest bank staffers’ union, the All India Bank Employee’s Association (AIBEA), on Saturday.
AIBEA general secretary Venkatachalam in a statement said that the purpose of this release of wilful defaulters in public domain is in the interest of the country even as he demanded that the owners of these defaulting companies should not be allowed to contest elections and hold public offices.
The AIBEA demanded that the Banks must publish the names of all defaulters and stringent measures must be taken to recover the corporate loans and willful default must be made a criminal offence.
“Today public sector banks have grown in a very big way proliferating with their
branches in every nook and corner. Today the total deposits of all commercial banks are more than Rs 138 lakh crores. Thus, savings of the common man is safe in the Banks,” said AIBEA, demanding strengthening of public sector banks and provide adequate capital in all banks.
As per the list released by AIBEA, as on September 30, 2019, the public sector banks are facing 2,426 cases with willful defaulters of Rs 1,47,350 crore.
The list is of those having default from Rs.five crore
facing cases in courts and fall under the category of ‘wilful defaulters’.
The widely known NPA (Non-Performing Assets) category is not part of this list. Many large Corporates’ dues come under NPA, which is not made in public domain by banks.
In the AIBEA released wilful defaulters list highest is from State Bank of India (SBI) with Rs 43,887 crores, followed by Punjab National Bank and Bank of Baroda with Rs 22,370 crores and Rs 14,661 crore dues. Out of the total 2426 cases, these three bank are having 1,365 cases of wilful defaulters.