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State Bank of India Names 10 Big ‘Willful Defaulters’

State Bank of India Names 10 Big ‘Willful Defaulters’

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  29 Jun 2019 11:55 AM GMT

Mumbai: The State Bank of India on Friday revealed the names of 10 new big-ticket firms from the pharmaceuticals, gems and jewellery and power sectors and also their top officials as it declared them ‘wilful defaulters’. Mostly based in Mumbai, the outstanding from these loan defaulters are pegged at nearly Rs 1,500 crore, and they have been served repeated reminders to clear their borrowings.

The SBI has warned them all of legal action if they fail to repay their dues with interest and other charges within the next 15 days. The defaulters also include players from the infrastructure and other sectors, according to public notices issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade.

The biggest defaulter on the list, with an outstanding of Rs 3,47,30,46,322, is Spanco Ltd. The company has its office in Godrej Coliseum, Sion, and its two directors -- Kapil Puri and his wife Kavita Puri live nearby in Chembur. The next one is Calyx Chemicals & Pharmaceuticals Ltd, Andheri East with an outstanding of Rs 3,27,81,97,772. Its directors – Smitesh C Shah, Bharat S Mehta and Rajat I Doshi – are all based in Mumbai.

Raigad-based Loha Ispaat Ltd has an outstanding of Rs 2,87,30,52,225. Following them is Auro Gold Jewellery Pvt Ltd from Lower Parel, with an outstanding of Rs 229,05,43,248. The others on the list include directors Imran Khan and Mohammed I Khan of Excel Metal Processors Pvt Ltd; directors Hrishikesh Shah and Jaykishan Shah of Microcosm Infrastructure & Power Pvt Ltd; and Metal Link Alloys Ltd (currently in liquidation). (IANS)

Also Read: Arunachal Deputy CM Chowna Mein Opens State Bank of India Branch In Arunachal

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