Reserve Bank of India (RBI) identified 12 Companies that collectively have an outstanding loans to the tune of over Rs 4 lakh crore. These 12 accounts contribute to 25 percent of the total Non-Performing Assets (NPAs) of the banking system.
RBI is going to issue directions to banks to take up legal proceedings under the Insolvency and Bankruptcy Code (IBC) against these 12 Accounts. National Company Law Tribunal (NCLT) will be giving priority to cases related to non-payment of loans.
1) Bhushan Steel: Rs 90,000 crore
2) Videocon Industries: Rs 58,000 crore
3) JP Group: Rs 55,000 crore
4) Esaar Limited: Rs 50,000 crore
5) Zindal Group: Rs 38,000 crore
6) Alok Industries: Rs 25,000 crore
7) Lanco: Rs 19,000 crore
8) AGG Ship Yard: Rs 15,000 crore
9) Punj Llyod: Rs 14,000 crore
10) Electrosteel Group: Rs 14,000 crore
11) Abbas Holdings: Rs 14,000 crore
12) Abaan Holdings: Rs 13,000 crore
RBI is going to issue directions to banks to take up legal proceedings under the Insolvency and Bankruptcy Code (IBC) against these 12 Accounts. National Company Law Tribunal (NCLT) will be giving priority to cases related to non-payment of loans.
1) Bhushan Steel: Rs 90,000 crore
2) Videocon Industries: Rs 58,000 crore
3) JP Group: Rs 55,000 crore
4) Esaar Limited: Rs 50,000 crore
5) Zindal Group: Rs 38,000 crore
6) Alok Industries: Rs 25,000 crore
7) Lanco: Rs 19,000 crore
8) AGG Ship Yard: Rs 15,000 crore
9) Punj Llyod: Rs 14,000 crore
10) Electrosteel Group: Rs 14,000 crore
11) Abbas Holdings: Rs 14,000 crore
12) Abaan Holdings: Rs 13,000 crore