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English Release 20-August 2014
Date Month Year
  • President's Secretariat
  • President of India condoles the passing away of Shri Bks Iyengar
  • Conference of Chairmen, Board of Governors and Directors of Indian Institutes of Technology to be held on August 22
  • Prime Minister's Office
  • PM condoles the passing away of Yogacharya BKS Iyenger
  • PM presents DRDO awards
  • Min of Defence
  • Raksha Mantri Lays Foundation Stone for Nau Sena Bhawan Building Complex
  • Make DRDO a Hub for Defence Manufacturing – Arun Jaitley
  • The Coas Pays Respect to Mortal Remains of Havildar Gaya Prasad
  • Port Call INS Sahyadri at Manila, Philippines
  • Ministry of Finance
  • Public Comments sought on Draft of Forward Contracts (Regulation) (Intermediaries) Rules, 2014
  • Min of Food Processing Industries
  • Committee setup to suggest restructuring of FCI
  • Min of Health and Family Welfare
  • No Ebola suspect case admitted today to Quarantine cum Isolation Health Facility at Delhi Airport
  • Min of Home Affairs
  • Home Minister Reviews Assam-Nagaland Border Incidents
  • Special Training on Disaster Management
  • Director General Level Talks Between NCB, India and PNB, Sri Lanka
  • Home Minister Launches the Plan Scheme of Mainstreaming Civil Defence in Disaster Risk Reduction
  • FCRA Outreach Seminar in Maharashtra
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh Submits Proposal for Women Toilets in Border Areas of J&K
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Petroleum & Natural Gas Minister reviewed the project of tourist facilities and peripheral being developed by the Indian Oil Foundation Trust
  • Global crude oil price of Indian Basket decreased to US$ 99.94 per bbl on 19.08.2014
  • Min of Power
  • PM to Dedicate 765 kV Ranchi-Dharamjaygarh-Sipat Inter-Regional Transmission Line ;
  • Prime Minister to Dedicate Mouda Super Thermal Power Project to the Nation in Nagpur Tomorrow
  • Ministry of Tourism
  • State Tourism Ministers Conference to be held in New Delhi on 21st August 2014
  • Min of Urban Development
  • DDA to Take up Projects to Decongest Five Critical Roads
  • Ministry of Water Resources
  • 2015-2016 to be Observed as Water Conservation Year One Uninterrupted Stream of Ganga to be Ensured within Three Years Says Uma Bharti
  • Min of Youth Affairs & Sports
  • SAI released Rs. 11.27 crore to Hockey India during 2014-15 for various activities against the allocated budget of Rs. 10.50 crore

Previous Date

 
Ministry of Finance07-December, 2012 18:23 IST
Willful Defaulters

           

            Reserve Bank of India (RBI) collects on quarterly basis, the information on Willful Defaulters (non-suit filed accounts) of Rs. 25 lakh and above from Banks.  Besides RBI, the Credit Information Companies, including Credit Information Bureau of India Ltd. (CIBIL) are maintaining a database on suit filed accounts, including willful defaulters with Rs. 25 lakhs and above.  The details of such accounts as on 31st March 2012 in Public Sector Banks are as under:

 

(Amount in Rs. Crore)

 

Suit Filed Accounts

Non-Suit Filed Accounts

 

Nos.

Amt.

Nos.

Amt.

Nationalised Banks

2451

9510.89

157

683.12

State Bank Group

1085

7014.40

981

3491.58

Total Public Sector Banks

3536

16525.30

1138

4174.70

 

A “willful default” would deem to have occurred if the unit has defaulted in meeting its payment/repayment obligations to the lender when the unit has:

·         the capacity to honour the said obligations;

·         has diverted the funds for other purpose;

·         not utilized/siphoned off the finance from the lender for the specific purposes for which finance was availed of, nor the funds are available with the unit in the form of other assets,

·         Disposed off or removed the movable fixed assets or immovable property given by him or it for the purpose of securing a term loan without the knowledge of the lender.

A copy of list of willful defaulters, (non-suit filed accounts) and list of willful defaulters (suit filed accounts) are forwarded to Securities & Exchange Board of India (SEBI) by RBI and CIBIL respectively, in order to prevent them to access the capital markets.  No additional facilities are to be granted by any bank/FI to the listed willful defaulters.

 

   The legal process, wherever warranted, against the borrowers/guarantors and foreclosure of recovery of dues should be initiated expeditiously by the banks.  The lenders may also initiate criminal proceedings against willful defaulters, wherever necessary.

 

Other legal options available to banks for resolution of NPAs/recovery of loans, are action under Securitization and Reconstructions of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI Act, 2002), recourse to Debt Recovery Tribunals (DRTs) and Lok Adalats.

 

 This information was given by the Minister of State for Finance, Shri Namo Narain Meena  in written reply to a question in Lok  Sabha today.

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DSM/RS/bs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


(Release ID :90211)

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