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Dues of PNB's big wilful defaulters rise to Rs 15,490 cr

Dues of PNBs big wilful defaulters rise to Rs 15,490 cr

New Delhi: Wilful defaulters borrowing Rs 25 lakh and above owed more than Rs 15,490 crore to PNB as of May end, up 2 per cent from the preceding month.

The data from the state-owned Punjab National Bank covers the big wilful defaulters who are not paying back their loans despite having the capacity to do so.

These borrowers of PNB had defaulted on loan repayment of Rs 15,199.57 crore as on April 30 this year.

For financial year ended March 2018, the bank's balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore. PNB suffered a standalone net loss of Rs 12,282.82 crore in 2017-18, as against a profit of Rs 1,324.80 crore in 2016-17.

The major defaulters included Kudos Chemie - Rs 1,301.82 crore; Kingfisher Airlines Rs 597.44 crore; BBF Industries Rs 100.99 crore; ICSA (India) Ltd Rs 134.76 crore; Arvind Remedies Rs 158.16 crore and Indu Projects Ltd Rs 102.83 crore.

Others included Jas Infrastructure and Power Ltd - Rs 410.96 crore; VMC Systems - Rs 296.8 crore; MBS Jewellers - Rs 266.17 crore; Tulsi Extrusion - Rs 175.41 crore. These borrowers took loan from PNB through a consortium arrangement of several banks. The defaulters who took loan solely from PNB were: Winsome Diamonds and Jewellery - Rs 899.70cr; Forever Precious Jewellery & Diamonds - Rs 747.97 crore; Zoom Developers - Rs 410.18 crore; Nafed - Rs 224.24 crore and Mahua Media Pvt Ltd - Rs 104.86 crore.

PTI

PTI

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