Few corporate defaulters have brought most of the public sector banks to their knees eroding their net-worth and compelling them to dilute equity to comply with Basel norms. PSBs have been huge wealth destroyers since past couple of years partly due to economic slowdown and partly because of willful defaulters.
Following is the list of top 20 loan defaulters in India:
- Kingfisher Airlines - 2673 crores
- Winsome Diamonds & Jewelry - 2660 crores
- Electrotherm India Limited - 2211 crores
- Zoom Devlopers Pvt. Ltd - 1810 crores
- Sterling Biotech Ltd - 1732 crores
- S. Kumars Nationwide Ltd - 1692 crores
- Surya Vinayak Industries - 1446 crores
- Corporate Ispat Alloys - 1360 crores
- Forever Precious Jewelry and Diamonds - 1254 crores
- Sterling Oil Resources - 1197 crores
- Varun Industries - 1129 crores
- Orchid Chemicals & Pharmaceuticals - 938 crores
- Kemrock Industries and Exports - 929 crores
- Murli Industries & Exports - 884 crores
- National Agricultural Cooperative - 862 crores
- STCL Ltd - 860 crores
- Surya Pharama - 726 crores
- Zylog Systems Ltd - 715 crores
- Pixion Media Pvt. Ltd - 712 crores
- Deccan Chronicles Holdings Ltd - 700 crores
The above top 20 accounts have together defaulted for over 25000 crores worth of public money.
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