SBI reveals names of 10 big 'wilful defaulters'2 min read . Updated: 28 Jun 2019, 03:45 PM IST
- Firms are mostly based in Mumbai
- Defaulters have been served repeated reminders to clear their outstanding dues
Mumbai: The State Bank of India (SBI) 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 outstandings from these loan defaulters are pegged at nearly 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 ₹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 ₹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 ₹2,87,30,52,225 and its Chairman and Managing Director is Rajesh G. Poddar, while other directors named are Anju Poddar (both Mumbai-based), Manish O. Garg and Sanjay Bansal (both from Navi Mumbai).
Following them is Auro Gold Jewellery Pvt. Ltd. from Lower Parel, with an outstanding of ₹229,05,43,248. Its Chairman Amritlal G. Jain and his son and Managing Director Ritesh Jain have been named as 'wilful defaulters'.
The others on the list include directors Imran Khan and Mohammed I. Khan of Excel Metal Processors Pvt. Ltd. with loans worth ₹61.26 crore; directors Hrishikesh Shah and Jaykishan Shah of Microcosm Infrastructure & Power Pvt Ltd. with ₹56.73 crore; and Metal Link Alloys Ltd. (currently in liquidation) Chairman Bhavarlal M. Jain, Managing Director Rajmal M. Jain and their father and Director Mangilal G. Jain with an outstanding of ₹53.79 crore.
The smallest defaulters are: Directors Chetan R. Dhruv and Shirish J. Parekh of Resilient Auto India Ltd., Andheri with an outstanding of ₹32.71 crore; directors Amin Rangara, Nizar Rangara, Malik Rangara and Daulataben Rangara of Rangara Industries Pvt. Ltd. with ₹29.51 crore; and sole director Narayan P. Tekriwal of Global Hi-Tech Industries Ltd. with ₹27.80 crore.
Public has been cautioned against having any dealings with these companies and individuals as it could be subject to the legal recourse the SBI is planning in the matter.
This story has been published from a wire agency feed without modifications to the text.