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The Bank Employees Federation of India (BEFI) on Saturday released a list of 1,129 ‘wilful’ corporate defaulters whose loan dues aggregate to about ₹54,000 crore. Companies in the list had defaulted on loans over ₹10 crore. During the year ended 2013-14, provisioning for non-performing assets (NPAs) accounted for ₹63,591 crore, of a total operating profit of ₹1,27,965 crore, P Venkataramaiah, General Secretary, BEFI, Andhra Pradesh, said at a press conference here on Saturday.
“Most of the companies mentioned in the list are still being run by politicians, bureaucrats and other influential persons who are blocking the recovery,” he said. The purpose of releasing the list on Bank Nationalisation Day was to put pressure on the defaulters and bank managements, he added. A similar list released by unions five years ago helped recovery to some extent, the BEFI functionary said.
Lanco Mandakini Hydro Energy, Sujana Group, Kingfisher, Progressive Construction, Viceroy Hotels, Regency Ceramics, Nav Bharat International, S Kumars Nationwide Ltd and Deccan Chronicle are named in the list, among others.
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