Over Rs 68,600 cr loans of wilful defaulters: RBI in RTI reply

Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters in the country including firms of Mehul Choksi and Vijay Mallya have been technically written off till September 30, 2019, the Reserve Bank of India said in a RTI reply.

Absconding dimantaire Choksi’s company Gitanjali Gems topsthe list of these defaulters with a whopping amount of Rs 5,492 crore,according to the list.

   

This is followed by REI Agro with Rs 4,314 crore and WinsomeDiamonds with Rs 4,076 crore.

Rotomac Global Private Limited has funded advances of Rs2,850 crore which have been technically written off and Kudos Chemie Ltd withRs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev’s Patanjali,with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being theother companies.

Mallya’s Kingfisher Airlines figures in the list at number9, with outstanding of Rs 1943 crore which have been technically written off bythe banks.

Forever Precious Jewellery and Diamonds Private Limited hasloans of Rs 1,962 crore written off while Deccan Chronicle Holdings Limitedhave Rs 1915 crore written off loans. Choksi’s other firms Gili India andNakshatra Brands also have loans of Rs 1,447 and Rs 1109 crore respectivelywritten off.

REI Agro of Jhunjhunwala brothers is already under thescanner of ED. The CBI and ED are also probing alleged fraud by the owners ofWinsome Diamonds.

Vikram Kothari’s Rotomac is the fourth in the list. He and his son Rahul Kothari were arrested by the CBI for bank loan default. 

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