FM Nudges PSU Banks To Take Swift Action Against Frauds, Wilful Defaulters
Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till the financial year 2021-22. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off.
Jul 09, 2023, 20:30 PM IST
Rotomac Pen promoter Vikram Kothari denies ‘fleeing India’
The Kanpur-based company's owner had taken a loan of more than Rs 800 crore from over five state-owned banks.
Feb 19, 2018, 07:56 AM IST
After Nirav Modi, now Rotomac Pens owner Vikram Kothari goes missing with over Rs 800 crore
Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank.
Feb 18, 2018, 21:47 PM IST
Now, IT dept to get defaulters address from banking, municipal authorities
The database of the government means all databases where a taxpayer is registered, like a driving license or voter ID, and the local authority means the municipal body or a similar department.
Dec 24, 2017, 11:35 AM IST
'Indian banks need at least $2.8 billion extra provisioning for bankruptcy cases'
Indian banks taking 12 of the country`s largest defaulters to bankruptcy court under a central bank directive, will need to make additional provisioning of at least Rs 180 billion ($2.8 billion), India Ratings and Research said on Tuesday.
Jul 18, 2017, 13:32 PM IST
TDS default: I-T dept issues over 850 prosecution notices
The Income Tax department has issued over 850 prosecution notices to firms in the private and government domain in Karnataka and Goa on charges of delay in remitting TDS funds to the exchequer.
Feb 22, 2017, 15:36 PM IST
Bank union threatens to disclose names of 7,000 defaulters
All-India Bank Employees Association (AIBEA) Sunday threatened to make public the names of top 7,000 wilful corporate loan defaulters who have defrauded around Rs 70,000 crore.
Jul 16, 2016, 19:53 PM IST
Wilful defaulters: IT dept to use powers to arrest, detain
Officials have been directed not to shy away from the rare provisions of arrest, detention and auctioning of attached assets of wilful income tax defaulters.
Jun 21, 2016, 16:41 PM IST
Top 50 defaulters of PSBs had exposure of Rs 1.21 lakh cr
The number of wilful defaulters of PSBs rose from 5,554 to 7,686 in three years to December 2015 while the amount involved more than doubled to Rs 66,190 crore from Rs 27,749 crore.
May 04, 2016, 11:08 AM IST
Check out! These are the top 10 defaulters in India; Kingfisher Airlines at No. 9?
Usha Ispat, owned by Usha Limited came out on top with an outstanding amount of Rs 16,911 crore while the Vijay Mallya owned Kingfisher Airlines surprisingly came in the ninth position.
Apr 27, 2016, 21:47 PM IST
RBI provides list of big loan defaulters, urges SC not to disclose names
A bench headed by Chief Justice T S Thakur had last month directed the central bank to provide a list of companies which are defaulters of bank loans of over Rs 500 crore while expressing serious concern over rise in bad loans.
Mar 30, 2016, 19:06 PM IST
SC asks RBI to give list of defaulters of over Rs 500 crore loan
The apex court also asked the Reserve Bank of India (RBI) to provide within six weeks the list of companies whose loans have been restructured under corporate debt restructuring schemes.
Feb 16, 2016, 18:13 PM IST
IT dept third list of tax defaulters: Know the names of all 18 individuals
Know the complete list of 18 individuals whose names have been issued by the Finance Ministry as tax defaulters.
Dec 30, 2015, 16:29 PM IST
Need to check flaws in banking system: Rajan
The banking sector is currently struggling with high non performing assets (NPAs).
Oct 23, 2015, 19:51 PM IST
7,035 wilful defaulters owe Rs 59,000 cr to PSU banks
As many as 7,035 wilful defaulters owe about Rs 59,000 crore to state-owned banks and SBI and Central Bank of India account for bulk of such borrowers.
Oct 18, 2015, 19:10 PM IST
SEBI orders attachment of demat, bank accounts of defaulter
Capital market regulator SEBI has ordered attachment of bank and demat accounts of one Shyama Prasad Murarka to recover dues of over Rs 77 lakh for violation of norms.
Oct 18, 2015, 19:06 PM IST
RBI issues mechanism for identification of wilful defaulters
RBI Thursday said a non-whole time director of a defaulting company can be classified as a wilful defaulter only if there is conclusive proof that the person concerned is in the know of loan default.
Apr 23, 2015, 23:58 PM IST
RBI suggests Sebi action against 'wilful' defaulters
Tightening the regulatory noose around wilful defaulters of bank loans, RBI has suggested to watchdog Sebi that such entities should be prevented from raising funds through capital markets.
Jul 29, 2014, 16:40 PM IST
United Bank to 'name and shame' wilful defaulters: Narang
State-owned United Bank of India will soon embark upon process to 'name and shame' its wilful defaulters as part of its effort to recover dues.
Jul 18, 2014, 14:02 PM IST
