Over 2,000 cases filed as UCO Bank tries to reclaim INR 1.11 lakh crore in large defaults
Kolkata-headquartered UCO Bank ranks eighth among public sector banks in exposure to large corporate defaulters, with defaults totalling INR 1.11 lakh crore, according to TransUnion CIBIL data up to January 2026. The bank has filed 2,032 recovery cases across the country.
As per Reserve Bank of India guidelines, all public sector banks submit monthly lists of large defaulters, except Indian Bank, which has not filed such data for the past year.
The biggest defaulter for UCO Bank is the debt-laden Bhushan Group, including Bhushan Steel, Bhushan Power & Steel and Bhushan Energy, with 24 loans amounting to INR 13,787 crore. The group faces multiple insolvency proceedings, with total dues exceeding INR 90,000 crore across banks.
Among other major defaulters, Kolkata-based Concast Group accounts for INR 3,179 crore in dues. This is followed by REI Agro (INR 3,578 crore), Essar Group (INR 3,131 crore) and Dewan Housing Finance Corporation (INR 3,088 crore).
Other prominent defaulters include Castex Technologies (INR 2,664 crore), Coastal Energen (INR 2,418 crore) and companies of Anil Ambani’s Reliance Group-including Reliance Communications and Reliance Naval and Engineering-with combined dues of INR 2,341 crore.
Companies linked to former Congress MP L Rajagopal, including Lanco Infratech entities such as Lanco Vidarbha Thermal Power and Lanco Hills Technology, have defaulted INR 2,398 crore. Chennai-based Surana Group firms account for INR 2,387 crore.
Other firms facing recovery proceedings include Nagarjuna Oil Corporation (INR 2,123 crore), Visa Steel (INR 2,064 crore), Jaiprakash Associates (INR 2,059 crore), BRG Iron & Steel (INR 1,969 crore), Adhunik Metaliks (INR 1,778 crore) and Jindal India Thermal Power (INR 1,468 crore).
Era Infra Engineering has defaulted INR 1,478 crore. The Era Group, led by realtor Hem Singh Bharana, faces multiple cases over alleged cheating of homebuyers and is also under investigation by agencies including the Central Bureau of Investigation and Enforcement Directorate for alleged diversion of loan funds to British Virgin Island.
Other defaulters include Rabirun Vinimay (INR 1,350 crore), AMW Motors (INR 1,009 crore), Vandana Vidyut (INR 1,009 crore) and Monnet Power (INR 1,000 crore).
Other defaulters ranging between INR 600-INR 1,000 crore are GVK Power, Mumbai based companies Sunil Hitech Engineers, Jyoti Structures-Mumbai, Fair Deal Supplies Ltd limited by industrialist AC Muthiah, Hyderabad based Sujana Towers, Jhabua Power, Gammon India. Hyderabad based companies Anrak Aluminum, Konaseem Gas Power, former TDP MP Rayapati Sambasiva Rao owned Transtroy India, Indu Projects, Icom Tele Limited — INR 621 crore — and Congress leader Kamal Nath’s family controlled Moser Baer India INR 5,06 crore.
Interestingly, fugitives Mehul Choksi and Nirav Modi owned Gitanjali Exports (INR 184 crore) and Venugpal Dhoot and former Shiv Sena MP Rajgopal Dhoot headed Videocon Industries (INR 155 crore) has shown mercy to UCO bank by taking relatively small loans, while plundering other PSU Banks in 10,000 of crores.
