RBI grants Big Giants Loan Write off - Choksi, Ramdev, Vijay Mallya, Zoom Developers

Economy
RBI grants Big Giants Loan Write off - Choksi, Ramdev, Vijay Mallya, Zoom Developers

Here is the list of top defaulters:

  • The first in the list is Choksi's scam-hit company, Gitanjali Gems Limited, which owed Rs 5,492 crore, besides other group companies, Gili India Ltd and Nakshatra Brands Ltd, which had taken loans of Rs 1,447 crore and Rs 1,109 crore, respectively. Choksi has become a citizen of Antigua and Barbados Isles, while his nephew and another absconder diamond trader Nirav Modi resides in London.
  • The next in the list is REI Agro Ltd., with an amount of Rs 4,314 crore, and its directors Sandip Jhujhunwala and Sanjay Jhunjhunwala who are already under the scanner of the Enforcement Directorate (ED) since over a year.
  • The next in the line falls in the Rs 4,000-crore bracket diamantaire Jatin Mehta''s Winsome Diamonds and Jewellery owing Rs 4,076 crore and which is being probed by the Central Bureau of Investigation for various bank frauds.
  • In the Rs 2,000-crore category, there is the Kanpur-based writing instruments giant, Rotomac Global Pvt. Ltd., part of the famed Kothari group, which owed Rs 2,850 crore. Other renowned people in this category include Kudos Chemie, Punjab (Rs.2,326 crore), Baba Ramdev and Balkrishna''s group company Ruchi Soya Industries Ltd., Indore (Rs.2,212 crore), and Zoom Developers Pvt. Ltd., Gwalior (Rs.2,012 crore).
  • Another 18 companies come under the Rs 1K-crore segment with some prominent names like Harish R. Mehta''s Ahmedabad-based Forever Precious Jewellery & Diamonds Pvt. Ltd. (Rs.,1962 crore), and absconder liquor baron Vijay Mallya''s defunct Kingfisher Airlines Ltd. (Rs 1,943 crore).
  • The other 25 companies fall in the sub-1k-crore category with outstandings ranging from Rs 605 crore to Rs 984 crore, either individually or as group companies.

"A majority of them have defaulted prominent nationalist banks over the past several years and many of them are either absconding or facing action by various probe agencies and some are under litigation," Gokhale told IANS.No industry is sacrosanct as the top 50 willful defaulters are spread across various sectors of the economy including IT, infrastructure, power, gold-diamond jewellery, pharma, etc.





Date Posted: 2020-04-28 16:00
Tags: Rbi write off Ram Dev baba Loan write off Mehul Chowksi loan Rbi loan write off to 50 companies