New Delhi: Several banks have written off loans worth almost Rs 69,000 crore as of September 30, 2019, according to a RTI reply by Reserve Bank of India (RBI).
The RTI application was filed with the central bank seeking details of the top 50 ‘wilful defaulters’ and their current loan status as of February 16 2020. The reply to the RTI was received on April 24.
As per the RTI reply from Reserve Bank of India, the total amount owed by top 50 willful defaulters is Rs 68,607 crore.
Topping the list of the top 50 of the ‘wilful defaulters’ list is the scam-hit Gitanjali Gems Limited, owned by fugitive business baron Mehul Choksi. The second and third spots are taken by FMCG company REI Agro Limited and Jatin Mehta’s Winsome Diamonds and Jewellery Limited.
Rotomac owned by Vikram Kothari is number four in the list. He and his son Rahul Kothari were earlier arrested by the Central Bureau of Investigation for wilful default of bank loan.
Liquor baron Vijay Mallya’s Kingfisher Airlines also tops the list at number 9 with Rs 1,943 crore written-off loans against the name of his company.
A company is classified as a ‘wilful defaulter’, as per the RBI’s definition, if it has not met repayment obligations despite having the capacity to do so.