Top 24 defaulters owe bank R2,088 crore-Indian Express
Beleagured United Bank of India has among its big defaulters names such as Lanco Infratech, Bharati Shipyard, Varun Industries and Electrosteel Integrated.
Beleagured United Bank of India has among its big defaulters names such as Lanco Infratech, Bharati Shipyard, Varun Industries and Electrosteel Integrated.
A list of the top 24 borrowers whose loan accounts have turned bad prepared by the All India Bank Employees Association shows that these borrowers collectively owe the bank Rs 2,088 crore.
According to the list, Varun Industries — the Mumbai-based manufacturer and exporter of stainless steel kitchen utensils, cookware and homeware — is the biggest defaulter with a loan outstanding of Rs 323.6 crore.
Lanco Infratech owes Rs 112 crore. The others on the list are Electrosteel Integrated with an outstanding of Rs 218 crore and Bharati Shipyard at Rs 180 crore. Anothe company, Soma Enterprise owes the bank Rs 174 crore.
An emailed questionnaire sent by The Indian Express to the bank on the status of the loans given out to these companies went unanswered.
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