Loan sanctioned to some companies by the Indian Renewable Energy Development Agency (IREDA) have become Non Performing Assets (NPA) primarily on account of projects becoming un-remunerative due to reasons natural or otherwise limiting their repayment capability. The net NPA amount was Rs.89.05 crore, as on 31.3.2005.
IREDA has taken a series of steps against defaulters of loan such as sending recall notices, filing cases before Debt Recovery Tribunals (DRT) and the Board for Industrial and Financial Reconstruction (BIFR), taking action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act (SRFAESI), 2002 etc.
Total dues recovered during 2003-04 and 2004-05 are Rs.734.00 crore and Rs.686.38 crore respectively.
This information was given by Shri Vilas Muttemwar, Minister of State (Independent charge) for Non-Conventional Energy Sources, in a written reply in the Lok Sabha today.
Loan for Renewable Energy
