State Bank of India Releases Names Of 10 Big Wilful Defaulters

State Bank of India (SBI) revealed names of ten new big ticket firms and their officials and declared them as 'wilful defaulters.'

According to the public notice issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade, the biggest defaulter on the list was Spanco Ltd (Sion, Mumbai) with an outstanding amount of Rs 347.3 crore. 

SBI Top 10 Big Wilful Defaulters List:

Sl. No.	Firm Name	Location	Directors/Chairman	Amount defaulted (Rs.)
1	Spanco	Mumbai	Kapil and Kavita Puri	347.30 crore
2	Calyx Chemicals & Pharmaceuticals	Mumbai	Smitesh C. Shah, Bharat S. Mehta, Rajat I. Doshi	327.81 crore
3	Loha Ispaat	Raigad	Rajesh G. Poddar	287.30 crore
4	Auro Gold Jewellery	Mumbai	Amritlal G. Jain, Ritesh Jain	229.05 crore
5	Excel Metal Processors	Mumbai	Imran Khan, Mohammed I. Khan	61.26 crore
6	Microcosm Infrastructure & Power	Mumbai	Hrishikesh Shah, Jaykishan Shah	56.73 crore
7	Metal Link Alloys	Daman	Bhavarlal M. Jain, Rajmal M. Jain, Mangilal G. Jain	53.79 crore
8	Resilient Auto India	Mumbai	Chetan R. Dhruv, Shirish J. Parekh	32.71 crore
9	Rangara Industries	Mumbai	Amin Rangara, Nizar Rangara, Malik Rangara, Daulataben Rangara	29.51 crore
10	Global Hi-Tech Industries	Mumbai	Narayan P. Tekriwal	27.80 crore

These firms belong to pharmaceuticals, gems and jewellery, power and infrastructure sectors and are mainly based out of Mumbai.

These loan defaulters have pegged nearly Rs 1,500 crore and were given repeated reminders to clear their borrowings.

The biggest public sector lender in the country also said that it will take legal action against the named defaulters if they fail to repay their dues with interest and other charges in the next 15 days.

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