SBI names 10 Mumbai-based big-ticket ‘wilful defaulters’

Mumbai, June 28 

The State Bank of India today revealed the names of 10 new big-ticket firms from the pharmaceuticals, gems and jewellery and power sectors and also their top officials as it declared them ‘wilful defaulters’.

Mostly based in Mumbai, the outstanding from these loan defaulters is pegged at nearly 1,500 crore, and they have been served repeated reminders to clear their borrowings.

The SBI has warned them all of legal action if they fail to repay their dues with interest and other charges within the next 15 days.

The defaulters also include players from the infrastructure and other sectors, according to public notices issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade.

The biggest defaulter on the list, with an outstanding of over Rs 347 crore is Spanco Ltd. The company has its office in Godrej Coliseum, Sion, and its two directors — Kapil Puri and his wife Kavita Puri live in Chembur.

The next one is Calyx Chemicals & Pharmaceuticals Ltd, Andheri East, with an outstanding of Rs 327 crore. Its directors — Smitesh C. Shah, Bharat S. Mehta and Rajat I. Doshi — are all based in Mumbai.

Raigad-based Loha Ispaat Ltd. has an outstanding of Rs 287 crore and its CMD is Rajesh G Poddar, while other directors named are Anju Poddar (both Mumbai-based), Manish O Garg and Sanjay Bansal (both from Navi Mumbai).

Following them is Auro Gold Jewellery Pvt Ltd from Lower Parel, with an outstanding of Rs 229 crore. Its chairman Amritlal G Jain and his son and MD Ritesh Jain have been named as ‘wilful defaulters’.

The others on the list include directors Imran Khan and Mohammed I Khan of Excel Metal Processors Pvt Ltd with loans worth Rs 61.26 crore; directors Hrishikesh Shah and Jaykishan Shah of Microcosm Infrastructure & Power Pvt Ltd with Rs 56.73 crore; and Metal Link Alloys Ltd. (currently in liquidation) chairman Bhavarlal M Jain, MD Rajmal M. Jain and their father and director Mangilal G Jain with an outstanding of Rs 53.79 crore.

The smallest defaulters are: directors Chetan R Dhruv and Shirish J Parekh of Resilient Auto India Ltd, Andheri, with an outstanding of Rs 32.71 crore; directors Amin Rangara, Nizar Rangara, Malik Rangara and Daulataben Rangara of Rangara Industries Pvt Ltd with Rs 29.51 crore; and sole director Narayan P Tekriwal of Global Hi-Tech Industries Ltd with Rs 27.80 crore. — IANS