From RCom to Videocon: Bank of Maharashtra chases large defaulters
Bank of Maharashtra ranks sixth among 11 Public Sector Banks in the Large Defaulters list, with total dues pegged at INR 1.78 lakh crore. According to TransUnion CIBIL data up to January 2026, the bank has filed 3,531 recovery suits in courts across the country.
Companies linked to Anil Ambani tops the list, with dues of INR 10,728 crore. Reliance Communications and Reliance Naval and Engineering Limited split the exposure into multiple accounts, resulting in 16 recovery cases.
The second-largest defaulter is Winsome Diamonds, owing INR 9,342 crore. Promoted by fugitive Jatin Mehta, the company is under investigation by the CBI and ED.Investigating agencies have approached courts in the UK and UAE to trace allegedly siphoned funds.
Transstroy India Ltd, promoted by former TDP MP Rayapati Sambasiva Rao (82), owes INR 6,734 crore, making it the third-largest defaulter. Investigations by the CBI and SFIO found that funds were allegedly diverted through shell companies created in the names of employees including his maids, drivers and sweepers. The firm also has significant dues to other banks.
The Videocon Group, led by Venugopal Dhoot, owes INR 6,722 crore. Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar face charges related to alleged quid pro quo in loans extended to the group.
Other major defaulters include Siddhi Vinayak Logistics Ltd (INR 6,071 crore), Accurate Transformers Ltd (INR 4,376 crore), SVOGL Oil Gas and Energy Ltd (INR 4,125 crore), VOVL Ltd (INR 4,206 crore) and Coastal Projects Ltd (INR 4,153 crore).
The Lanco Group, promoted by former Congress MP L Rajagopal, owes INR 3,821 crore to the bank, with total dues across lenders estimated at over INR 30,000 crore. Rajagopal is notorious for using pepper spray inside the Lok Sabha protesting division of Andhra Pradesh in early 2014.
Textile firm SEL Manufacturing Company Ltd (INR 3,733 crore) and Jay Polychem India Ltd (INR 3,700 crore) also feature prominently.
Among other notable defaulters are Ushdev International Ltd (INR 3,011 crore), Jogeshwari Breweries Ltd (INR 2,482 crore), Metalyst Forgings Ltd (INR 2,316 crore), SEW Infrastructure Ltd (INR 2,231 crore), Kay Bouvet Engineering Ltd (INR 2,193 crore) and Corporate Ispat Alloys Ltd (INR 2,127 crore).
Real estate firms Amrapali Group (INR 1,753 crore) and Supertech Limited (INR 1,653 crore), both facing insolvency and homebuyer fraud cases, are also on the list.
Additional defaulters include Shree Ganesh Jewellery House Ltd, Unijules Life Sciences Ltd, Shirpur Gold Refinery Ltd and Gayatri Projects Ltd, among others, each owing over INR 1,000 crore.
In the INR 600-1,000 crore bracket, notable names include Jyoti Structures Ltd, EMC Ltd, Innoventive Industries Ltd, Gammon India Ltd and Essel Infraprojects Ltd, promoted by Subhash Chandra. Firms linked to fugitives Mehul Choksi and Nirav Modi, including Gitanjali Exports, also feature.
Bankers say a majority of these loans were extended against share pledges and personal guarantees, often with limited recoverable collateral, complicating recovery efforts.
