Till September 2017 more than 1.1 lakh crore was own to a bank by people or companies under wilful defaulters. This says that Those who are unwilling to pay despite having the capacity to do so. A report shows that more than 9000 such accounts for which bank have filed lawsuits and to recover.
They found that top 11 debtors(who owes money) group, each of them having dues about 1000 crores. We can also call them wilful defaulters list. Together they are having over 26,000 crores to the bank.
According to the publically available data analysis, wilful defaulters of the bank are of over 25 lakh and over and it shows that Jatin Mehta has promoted winsome Diamond and jewelry Ltd owns close to 5,500 crores to different banks. If they are willful defaulters why then they not get questioned?
Mehta is reported to be now the citizen of St Kitts and Nevis, A tax with which India has not any handover treaty at all. Mehta’s company are followed by Vijay Mallya’s company Kingfisher which has the payback of over 3,000 crores. Have wilful defaulters owe 2 lakh crore too?
The Third company in the list is Kolkata based REL Agro, A company owned by Sandip Jhunjhunwala. The wilful defaulter’s list is so many.Sandeep Jhunjhunwala was once listed in London and Singapore stock exchanges and was co-sponsor of an IPL team.
This company owes 2,730 crores. How they own in bank loan fraud list?. Well, money changes everyone’s mind.If they are willful defaulters then the investigation must be going through in right direction in a particular time period.
In the next list comes to company own by Prabodh Kumar Tiwari and his family members. The amount is as much as on Mahua Media, Pearl studio pvt.ltd, century communication, and Pixion Media Pvt Ltd is 2,416 crore. Are there are Panjab national bank wilful defaulters too?.The other company is Zoom developer Pvt Ltd.
This company owes more than 2,000 crores and despite having the means they unwilling to pay the amount. They also come under willful defaulters list.
The data shows the signaling list at which bad loans are growing.In a past one year, it has increased at an about 27 percent. In the past three years, it has increased by about 38 percent, 67percent and 35percent too. Willful defaulters of the banks will get punishment.
Make a list by list of different bank defaulters list such Panjab National Bank’s wilful defaulters. So, that each data must send to respective banks so that actions can be taken as soon as possible.
In between September 2013 and September 2017, the amount increased to 28,417 to 1.1 lakh crore. While some of it is due to interest add each year. The bank loan fraud list increasing day by day along with the amount too. This is pathetic and even bad too. The total of more than 50 companies or groups each with over 250 of willful defaulters and about 48,000 crores.
Which is less than government’s estimation of 52,000 crores for health in 2018-19. Wilful defaulter of banks is so many in number. According to the Bank wise report, Nationalised bank constitute 60 percent of its money whereas SBI and its associates constitute one-fourth of the total.
Private bank declares of over 14,000 crores as wilful defaulters banks.As they to get the tagged of defaulters one must try to decrease them in near future. It must vanish otherwise how the different bank gets an amount of benefit they expect it. Will it not affect the Indian economy, it will one day. Why wait for that very day to come.
Noone knows when it will stop. If it will not stoop then it gets banking sector sinking in the depth where they will not recover from them at all. The upcoming days or years will decide the fate of the nation. It will also decide whether Bank loan wilful defaulters will get decrease or not. Hope it will decrease.
Even RBI defines wilful defaulters as defaults done without the borrowers paying capacity. Even RBI must have to take strict action to wilful defaulters. can they do that?. Of course, they can. Then don’t wait for the others to make become willful defaulters. This is it whatever happens to remove it from memory. Now, the time is to take action.