Biggest loan defaulters in India All India Bank Employees Association (AIBEA) has announced a list of top 50 loan defaulters, mainly the corporate firms, whose total default amount to the banks is allegedly to be around Rs 40,528 crore (Rs 4056.28 billion). The association demanded a remedy for the bad loans at the earliest to safeguard the public money in the banks. The list, released by the association, is on the data on loan not paid from Public Sector Banks except State Bank of India, IDBI and foreign banks. The association also plans to come out with top 30 defaulters in each Bank. The biggest defaulter according to the list is Kingfisher Airlines. Click NEXT to see the other defaulters... Biggest loan defaulters in India alt Moser Baer India Ltd. & Group Companies Rank: 25 Loan not repaid: Rs 581 crore Moser Baer India Limited is a leading global tech-manufacturing company. Established in 1983, the company is one of the worlds largest manufacturers of Optical Storage media like CDs and DVDs. Every fifth disc manufactured globally belongs to Moser Baer and it is the lowest cost optical media manufacturer in the world. Click NEXT to read more… Biggest loan defaulters in India alt Century Communication Limited Rank: 24 Loan not repaid: Rs 624 crore Century Communication has one of the largest post-production facilities in India under Pixion. The studio has worked on scores of Indian films (Jail and London Dreams among recent ones), Hollywood films and ad films. The company also owns TV channels under the brand name Mahuaa. According to Business Standard, it’s the Mahuaa bouquet of channels that have caused problems to the company. Click NEXT to read more… Biggest loan defaulters in India alt Indian Technomac Rank: 23 Loan not repaid: Rs 629 crore Indian Technomac is a mining company that also manufactures silicon, chrome alloys, Manganese alloys , titanium alloys and nickel. Click NEXT to read more… Biggest loan defaulters in India alt ICSA (India) Rank: 22 Loan not repaid: Rs 646 crore Hyderabad-based ICSA (India) Limited provides solutions and software for the Energy Sector, which includes power, oil, natural gas and water. The Company is also engaged in the business of providing energy Audit solutions. The focus area for ICSA has been the technology solutions to Power Sector to identify Transmission and Distribution (T&D) losses and monitor power consumption. K.S. Oil Resources Rank: 21 Loan not repaid: Rs 678 crore Click NEXT to read more… Biggest loan defaulters in India alt Deccan Chronicle Holdings Limited Rank: 20 Loan not repaid: Rs 700 crore Deccan Chronicle Holdings Limited or DCHL publishes the English-language dailies Deccan Chronicle, Financial Chronicle and Asian Age and the Telugu daily Andhra Bhoomi. Banks have been taking possession of the DCHL’s property and assets and disposing them off to recover loans. Enforcement Directorate is also probing the company over money laundering allegations. Click NEXT to read more… Biggest loan defaulters in India alt Pixion Media Pvt. Limited Rank: 19 Loan not repaid: Rs 712 crore As per the Ministry of Corporate Affairs record, Prabodh Kumar Tewari and Anand Kumar Tiwari are directors of the company. The company is related to the Century Communication mentioned earlier. Zylog Systems (India) Limited Rank: 18 Loan not repaid: Rs 715 crore Zylog Systems (India) Limited is an Information Technology company registered in Chennai. Click NEXT to read more… Biggest loan defaulters in India alt Surya Pharma Rank: 17 Loan not repaid: Rs 726 crore Surya Phamaceutical started in 1992 and it is an integrated pharmaceuticals company. It focuses on contract research and manufacturing. STCL Limited Rank: 16 Loan not repaid: Rs 860 crore STCL (formerly called as Spices Trading Corporation Limited) is a subsidiary of State Trading Corporation of India based in Bangalore. The government has recommended winding up of this loss making public sector company, as it cannot be revived. Click NEXT to read more… Biggest loan defaulters in India alt National Agricultural Co-Operative Rank: 15 Loan not repaid: Rs 862 crore Nafed is the government’s procurement agency for non-cereal crops such as cotton, oilseeds and pulses. According to a report in Business Standard, loans to National Agricultural Cooperative Marketing Federation of India (Nafed) by several state-run banks have turned bad, and banks have classified these as non-performing assets (NPAs). The overall exposure of these banks to Nafed stands at about Rs 2,000 crore (Rs 20 billion). Click NEXT to read more… Biggest loan defaulters in India alt Murli Industries & Exports Limited Rank: 14 Loan not repaid: Rs 884 crore Nagpur-based Murli industries is leading manufactures of all types of paper & paper boards, cement, edible oil, pulps, solvent and power. Click NEXT to read more… Biggest loan defaulters in India alt Kemrock Industries & Exports Rank: 13 Loan not repaid: Rs 929 crore Gujarat-based Kemrock Industries & Exports manufactures and exports composite for major industrial sectors such as aerospace, defense, renewable energy, wind energy, and railways. Click NEXT to read more… Biggest loan defaulters in India alt Orchid Chemicals & Pharmaceutical Rank: 12 Loan not repaid: Rs 938 crore Established in 1992 as an export-oriented unit (EOU), Orchid Chemicals & Pharmaceuticals is a vertically integrated company spanning the entire pharmaceutical value chain from discovery to delivery. Click NEXT to read more… Biggest loan defaulters in India alt Varun Industries Limited Rank: 11 Loan not repaid: Rs 1,129 crore Varun Industries is a global conglomerate of businesses which includes stainless steel raw materials, steel ware, energy, commodity trading and agricultural products. Click NEXT to read more… Biggest loan defaulters in India alt Sterling Oil Resources Rank: 10 Loan not repaid: Rs 1,197 crore Based in Mumbai, Sterling Oil Resources Limited is a venture from the Sandesara Group, which is a $ 6.9 billion group. The Sandesara group has many successful and diversified ventures. The Sterling Biotech, the flag-ship company, is listed on NSE and BSE in India, Luxembourg in Europe and Singapore in Asia. Other leading ventures of Sandesara Group are PMT Machine Tools Limited , Sterling SEZ Limited, Sterling Ports Limited, Sterling International Enterprises Limited. Click NEXT to read more… Biggest loan defaulters in India alt Forever Precious Jewellery & Diamonds Rank: 9 Loan not repaid: Rs 1,254 crore Forever Precious Jewellery & Diamond, a part of Su-Raj Diamonds & Jewellery, supplies an extensive range of fine jewellery and accessories to jewellers and jewellery manufacturers. Click NEXT to read more… Biggest loan defaulters in India alt Corporate Ispat Alloys Rank: 8 Loan not repaid: Rs 1,360 crore Corporate Ispat Alloys Ltd (CIAL) is a unit of Abhijeet group. According to the company’s website, Under CIAL the Group has obtained environment clearance for an integrated steel plant along with 280 MW power plant in Jharkhand. Abhijeet group has interest in power, mining, steel, roads, and cements. Click NEXT to read more… Biggest loan defaulters in India alt Surya Vinayak Industries Rank: 7 Loan not repaid: Rs 1,446 crore Surya Vinayak Industries is part of Floriana Group based out of New Delhi. According to the company’s website, Surya Vinayak Industries imports, exports and trade in agri products. It is also a leading manufacturer of essential oils and other speciality perfumery compounds. Click NEXT to read more… Biggest loan defaulters in India S Kumars Vice Chairman and Managing Director Nitin S Kasliwal. S. Kumars Nationwide Limited Rank: 6 Loan not repaid: Rs 1,692 crore SKNL is one of India’s leading textile and apparel company with expertise in multi-fibre manufacturing. The company has extended its presence in multiple product categories from Fabrics to Apparels and Home Textiles. Click NEXT to read more… Biggest loan defaulters in India alt Sterling Biotech Limited Rank: 5 Loan not repaid: Rs 1,732 crore Sterling Biotech is a pharmaceutical firm with focus on contract research and manufacturing. It is flag ship company of Sandesara Group, which also owns Sterling Oil Resources. Zoom Developers Private Limited Rank: 4 Loan not repaid: Rs 1,810 crore Vijay Choudhary and B L Kejriwal are the brains behind Zoom Developers who charted exponentially growth for the company. But the global financial crisis of 2008 shattered all their dreams. The group tried to grow faster than they could handle. Nearly 27 Indian banks, with a majority of public sector banks have lent close to Rs 2,700 crore to this company. This debt has been admitted in the corporate debt restructuring cell. Click NEXT to read more... Biggest loan defaulters in India Last updated on: December 10, 2013 16:44 IST alt Electrotherm India Limited Rank: 3 Loan not repaid: Rs 2,211 crore Electrotherm (India) has been engineering metal melting industry since 1983 and holds a 2,500,000 kW market share in the metal melting industry globally. Click NEXT to read more… Biggest loan defaulters in India alt Winsome Diamond & Jewellery Rank: 2 Loan not repaid: Rs 2660 crore The company manufactures and exports gold, silver and platinum jewellery studded with diamonds, colour stones and semi precious stones as well as plain jewellery. This company is part of Su-Raj Diamonds & Jewellery and holds 49 per cent stake in Forever Precious Jewellery. Click NEXT to read more… Biggest loan defaulters in India Vijay Mallya. Kingfisher Airlines Rank: 1 Loan not repaid: Rs 2,673 crore Until December 2011, Kingfisher Airlines had the second largest share in Indias domestic air travel market. The airline faced severe financial crisis at the beginning of 2012 and is dysfunctional as of now. The 14 banks, led by State Bank of India, which lent Rs 6,500 crore (Rs 65 billion) to the airline, are now involved in litigation over the money, as Mallya has sued them in multiple courts. Today, Mallya owes money to banks, employees, tax officials, caterers, aircraft leasing companies, fuel supplier Hindustan Petroleum Corporation and to taxi operators, too. Click NEXT to read more… Biggest loan defaulters in India alt Other famous companies that defaulted PSL Limited Rank: 26 Loan not repaid: Rs 577 crore With a production capacity in excess of the 1 million ton, PSL is India’s largest manufacturer of HSAW pipes. Housing Development & Infra Ltd Rank: 29 Loan not repaid: Rs 526 crore HDIL is a real estate developer based in Mumbai. It specialises in Slum Rehabilitation projects. Educomp Infrastructure & School Management Rank: 34 Loan not repaid: Rs 477 crore Educomp Infrastructure & School Management is a subsidiary of a subsidiary of Educomp Solutions. The latter is the largest education company in India.
Posted on: Sat, 01 Feb 2014 14:34:32 +0000
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