RBI to release second list of defaulters with high NPAs
DSIJ Intelligence / 30 Aug 2017
The Reserve Bank of India (RBI) plans to issue a fresh list of defaulters to be referred to the National Company Law Tribunal (NCLT) by the banks if their NPAs remain unresolved by mid-December.
The Reserve Bank of India (RBI) plans to issue a fresh list of defaulters to be referred to the National Company Law Tribunal (NCLT) by the banks if their NPAs remain unresolved by mid-December. Some of the prominent names on the list are Videocon Industries, JP Associates, Jayaswal Neco, Uttam Galva, Ruchi Soya, Unity Infra, Monnet Power, Shakti Bhoj, Nagarjuna Oil, Orchid Chem, East Coast Energy, Ushdev, Essar Projects, IVRCL, Visa Steel, Castex Technologies, etc.
The list, which includes listed companies, names around 35 to 40 companies. According to a news report, the defaulters are likely to be sent to NCLT if their NPAs are not resolved by mid-December. Of the total defaulters named on the list, State Bank of India (SBI) alone may have 25-26 of these NPA accounts. Around 60% of these accounts had turned NPAs in June 2016.
Following are the share prices of some of the listed companies that may be in the RBI’s second list of top defaulters:
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