Bank union puts out NPA list, Kingfisher top defaulter

The All India Bank Employees Association has released a list of top defaulters to public sector banks and no prizes for guessing who tops the list. It is Vijay Mallya’s Kingfisher Airlines.

The airline company, which has remained grounded for more than one year, has Rs 2,673 crore worth of dues to public sector banks.

The company has more than Rs 7,000 crore debt and banks have been trying their best to recover the amount. According to media reports, SBI, which has the largest exposure of Rs 1,600 crore to the troubled company, had moved to take over Kingfisher Villa, Mallya’s bungalow in Goa. However, Mallya got a relief as a local court restrained the banks from taking over the villa and ordered status quo.

[caption id=“attachment_1205597” align=“alignleft” width=“380”] AFP[/caption]

At a recent function in Goa, Mallya had blamed all but himself for Kingfisher’s ills.

The second big defaulter is Mumbai-based Winsome Diamonds, which has Rs 2,660 crore loan from banks.

The association has asked the government take steps to address the alarming rise of non-performing assets in the banking sector. It has asked the government to publish the list of defaulters on bank loans of Rs 1 crore and above and urged to make wilful default a criminal offence.

It has sought an investigation into the nexus and collusion and demanded stringent measures to recover bad loans. It has also said banks should not incentivise corporate delinquency.

According to the association, public sector banks’ bad loans have increased by Rs 4.95 lakh crore over the last seven years. Banks have also written of Rs 1.4 lakh crore worth loans over the period.

Check out the entire list of defaulters below.

[caption id=“attachment_1268997” align=“alignleft” width=“620”] Full list of defaulters[/caption]