Axis Bank chases to recover INR 66,338 cr from defaulters, files 3,209 cases

Axis Bank is looking to recover INR 66,338 crore from large defaulters. According to the data filed by the bank to the rating agency TransUnion CIBIL, up to February 2026, it has filed 3,209 suits to recover this huge money and has the second highest defaults among major private bankers on the list of Large Defaulters.

Among the largest defaulters of Axis Bank, Mumbai based Pratibha Industries tops with a huge dues of INR 13,795 crore This infrastructure and construction company has defaulted many banks and is facing insolvency cases. It is also under investigation by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for cheating banks. The CBI’s chargesheet details the role of company directors — Ajit Bhagwan Kulkarni, Ravi Kulkarni, Sunanda Datta Kulkarni and Sharad Prabhakar Deshpande — in defrauding banks by over-inflating their work contracts and siphoning of funds.

The second biggest defaulter of Axis Bank is Lavasa Corporation. Ajit Gulabchand headed company is facing insolvency cases.

Gulabchand’s name, however, is missing from the list of personal guarantor for the loans. Instead, company directors are shown as personal guarantor in the five loans availed by Lavasa Corporation. It sold its controversial township near Pune, Lavasa, as a private planned city. It has a default of INR 3,767 crore with Axis Bank.

Third biggest defaulter of Axis Bank is international travel agency Cox & Kings with dues of INR 2,632 crore, followed by Bombay Rayon Fashions (INR 2,357 crore) and Gujarat NRE Coke (INR 2,431 crore).

Lanco Group and Anil Ambani’s Reliance Capital too appear in the list of large defaulters of Axis Bank. Former Congress MP L Rajagopal-led Lanco Kondapalli Power has defaulted the bank INR 2,024 crore and Reliance Capital has defaulted INR 1,772 crore. Other big defaulters are Odisha-based Coastal Projects (INR 1,624 crore), Kolkata based Ramsarup Industries (INR 1,143 crore), and Delhi based Educomp Solutions (INR 1,025 crore).

The defaulters in range of INR 600 crore-INR 1,000 crore are: Kolkata based Simplex Infrastructure & Simplex Projects (INR 863 crore), Mumbai based GOL Offshore (INR 736 crore), Vidarbha Industries Power (INR 667 crore), Hong Kong based Geodesic Technology Solutions (INR 657 crore), Jaypee Infratech (INR 636 crore) and Mumbai based Parekh Aluminex (INR 622 crore).