Oh, you thought its only about Mallya--nine others are no less

While media has been abuzz with reports of Vijay Mallya and his failed  Kingfisher Airlines  (KFA) with several allegation of non re-payment of loans  and money laundering done for purchase of property abroad, interestingly the herd has not paid any attention to the other defaulters in India representing various sectors. What is ironical is the amount of debt owed by certain individual defaulting companies , which  not only is huge but surely is greater than the amount owed by Vijay Mallya to several banks. 

Finance Minister on several occassion has hinted at the cluster of industries where the NPA issue lies. Arun Jaitley had previously quoted Steel sector, Textile Sector, Roads and Infrastructure sector as grey areas where the NPA problem is visible and threatening to destabilise the Banking sector due to the consolidated bad loans in the system.

Usha Ispat, Malvika Steel , Llyods Steel, Zoom developers , Prakash Industries , Hindustan Cables , Cranes Software International , Prag Bosimi Synthetics,  and Hindustan Photofilms MFG co  are just few names who have been declared as defaulters and to a certain amount of the totals dues the defaulters have been termed as willful defaulters as well. Of these defaulting companies few are public sector undertakings as well.  If one takes a deeper look at these companies history of financing practices over several years , Kingfisher saga sounds less hotter.

 It will be interesting to see if several agencies and stakeholder including banking system will pursue the defaulters with similar zest and passion as is being done in the case of Vijay Mallya's Kingfisher Airlines.