Wilful Defaulters

He tweeted, "Modi Government has destroyed our banking sector by encouraging brazen 'loot and scoot'! Total amount owed by wilful defaulters is more than Rs 3 lakh crore. 4,394 new wilful defaulters have been added in last 5 years. Why is Modi Government shying in naming and shaming them."

Exclusive| Former RBI Deputy Governor Shyamala Gopinath pitches for stronger IBC process

Shyamala Gopinath suggested banks to fast-track process to facilitate early recovery. She said RBI measures, like the one which requires banks to report all large corporate credits to the central repository, is a positive one

New RBI data shows wilful defaulters are laughing all the way away from banks

Banks are almost sitting ducks with wilful defaulters. Most of the money lent to these defaulters, besides the huge corporate loan write-offs, is as good as gone. Ultimately, this is public money

Here's how much the top 50 'wilful defaulters' owe Indian banks

Fugitive diamantaire Mehul Choksi-promoted Gitanjali Gems Limited, which defaulted on loans worth Rs 7,848 crore, leads the pack, the government has told Parliament

Five promoters who siphoned funds overseas, defrauded Indian banks

Prior to the government’s new overseas investment rules, bankers learned some hard lessons in the corporate loan business

Govt’s new overseas investment rules to aid banks’ loan recovery, stop asset theft: Bankers

The government’s new norms for overseas investment make it tougher for loan defaulters and others being probed by investigative agencies and regulators to siphon off funds out of the country

RBI releases list of top wilful defaulters under RTI Act: Report

Among the 30 defaulters, three companies belong to fugitive businessman Mehul Choksi.

Lok Sabha passes Insolvency and Bankruptcy Code Amendment Bill; bars defaulting promoters

Wilful defaulters and existing promoters will not be allowed to participate in the bidding process to buy stressed assets of companies undergoing the insolvency proceedings

FinMin, RBI crack whip on defaulters, prepare for tough action

CNBC-TV18 reports that the government is preparing for tough actions against wilful defaulters. The defaulters will be charged for diverting loan funds elsewhere and selling assets pledged to get loans.

FinMin, RBI crack whip on defaulters, prepare for tough action

CNBC-TV18 reports that the government is preparing for tough actions against wilful defaulters. The defaulters will be charged for diverting loan funds elsewhere and selling assets pledged to get loans.

Banks can't publish defaulters' photo randomly: RBI

RBI today said lenders can publish photographs of only those borrowers in newspapers who have been declared wilful defaulters as per the central bank's guidelines.

India intends to sign pacts to seize wilful defaulters' assets

Against the backdrop of Mallya episode, government on May 5 said it intends to enter into cross-border treaties to confiscate overseas assets of wilful defaulters and recover dues of banks as the Lok Sabha passed a bill that seeks to update existing laws in this regard.

Here‘s what SP Tulsian makes of ICICI Bank, TVS Motor earnings

SP Tulsian in an interview to CNBC-TV18 shared his fundamental view on stocks that posted earnings like TVS Motors, ICICI Bank, MRF, CCL and others.

Wilful defaulters need to be brought to the book: CII

Mallya and Kingfisher Airlines owed Rs 7,800 crore to a consortium of 17 lenders led by State Bank, which had an exposure of over Rs 1,600 crore to the now defunct airline.

PNB says 904 wilful defaulters owe it Rs 10,869 crore

These are borrowers that Punjab National Bank believes have the wherewithal to pay but don't.

Banks have all power to deal with wilful defaulters: FM

The gross Non-Performing Assets (NPAs) of Public Sector Banks rose to 6.03 per cent at the end of June, as against 5.20 per cent in March this year.

Sebi to bar wilful defaulters from raising funds, takeovers

The proposed debarment from raising funds through equity or debt markets, including by way of IPOs or FPOs, would apply to all individuals or companies declared as 'wilful defaulter' by RBI.

Guj HC partially strikes down RBI wilful defaulter circular

RBI's master circular on wilful default list siphoning of funds, misrepresentation/falsification of records and fraudulent entry of transactions and restricts all directors of defaulting companies from banking services for any other ventures for five years.

RBI must go after rogue companies instead of broad brushing

Pratibha Jain, Partner at Nishith Desai Associates believes that a balance is required between overregulation and allowing the market to grow. A guarantor‘s role is to guarantee, he cannot be the first call for debt payment, she adds.

Mallya has lot to explain at Mangalore Chem, UBL AGM

The annual general meeting of both these companies is slated Thursday

Collateral Damage: UB Group cos to lose out on fresh loans

It is not just lend fresh, even renewal of cash credit limits will not be entertained if any of the board members of any company are board members of a company that has been declared a wilful defaulter and in this case specific directors have been named as wilful defaulters.

United Bank declares Vijay Mallya as wilful defaulter

The Kolkata-based bank is the first PSU lender to initiate the process of declaring Vijay Mallya and three other directors of the grounded Kingfisher Airlines as wilful defaulters a couple of months ago

Bhushan Steel remains a 'standard asset': United Bank

United Bank is part of the consortium of lenders to Bhushan Steel but is not a part of any additional lending to the company, said Deepak Narang, ED, United Bank of India.

'Take stern steps to recover loans from wilful defaulters'

NPAs, or bad loans, of public sector banks rose 28.5 percent to Rs 2.36 lakh crore in September last year from Rs 1.83 lakh crore in March 2013. Total NPAs had gone up to Rs 1.37 lakh crore in March 2012 from Rs 94,121 crore in March 2011. The amount of NPAs in September 2013 has more than doubled since March 2011.