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Articles for Wilful Defaulters

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases
1 year ago

Wilful default: RBI to tweak rules to give lenders flexibility in handling cases

Live Mint  

New Delhi: Lenders may get more flexibility in dealing with potential wilful defaulters as the central bank may make in-person hearings with borrowers mandatory at the time of identifying a loan account as stressed, two persons aware of the development said. A Supreme Court order in March regarding RBI’s 2016 circular on wilful defaults had said that borrowers should get …

Bank Banks Account Tag Defaulters Npa Wilful Defaulter
Gross market borrowing hits Rs 5.77 lakh cr until July this fiscal: Nirmala Sitharaman
1 year, 5 months ago

Gross market borrowing hits Rs 5.77 lakh cr until July this fiscal: Nirmala Sitharaman

India TV News  

The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The central government has wanted to raise net debt assets of Rs 17.99 lakh crore from different sources in 2023-24, basically, to fund its financial deficit, Sitharaman said in …

Sitharaman Nirmala Sitharaman Lakh Crore Wilful Defaulters
Banks recovered more than Rs 10 lakh crores from NPAs in the last nine years: Finance Ministry tells Lok Sabha
1 year, 5 months ago

Banks recovered more than Rs 10 lakh crores from NPAs in the last nine years: Finance Ministry tells Lok Sabha

Op India  

In a major success for the Narendra Modi government, during the last nine fiscal years, scheduled commercial banks have recovered approximately Rs 10 lakh crore, as per the government’s information to the Lok Sabha. In a written response to a question in the Lok Sabha on Monday, Minister of State for Finance Bhagwat Kisanrao Karad stated that according to the …

Assets Rajya Sabha Lok Sabha Crore Sabha Rbi Banks
Borrowers Enter OTS ; Supreme Court Directs Bank To Re-Consider Decision Of Wilful Default
2 years ago

Borrowers Enter OTS ; Supreme Court Directs Bank To Re-Consider Decision Of Wilful Default

Live Law  

The Supreme Court Bench comprising of Justice Surya Kant and Justice J.B. Pardiwala, while adjudicating a petition filed in Orbitz Irrigation Pvt. While the Petitioner was paying further amounts towards OTS proposal, the First Committee vide its order dated 29.07.2021 had declared the Petitioners as wilful defaulters. Decision Of The Court The Bench observed that after being declared wilful defaulters, …

Personal Court Order Hearing Committee Bench Decision
Mehul Choksi Biggest Wilful Defaulter In India With Rs 7,848-Cr Default; Here's List Of Top-10 Defaulters
2 years ago

Mehul Choksi Biggest Wilful Defaulter In India With Rs 7,848-Cr Default; Here's List Of Top-10 Defaulters

News 18  

The top-50 wilful defaulters owed a total of Rs 92,570 crore to Indian banks as of March 31, 2022, Minister of State for Finance Bhagwat Karad told Lok Sabha. Top-10 Wilful Defaulters In India As On March 31, 2022: 1) Mehul Choksi’s Gitanjali Gems 2) Era Infra 3) Reigo Agro 4) Concast Steel and Power 5) ABG Shipyard 6) Frost …

India Crore Rbi Banks Default Defaulters Npas
Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

Financial Public Sector Banks Crore Public Sector Rbi Banks
First Committee On Wilful Defaulters Not Obligated To Mention Its Composition In Its Order: Telangana High Court
2 years, 2 months ago

First Committee On Wilful Defaulters Not Obligated To Mention Its Composition In Its Order: Telangana High Court

Live Law  

The High Court of Telangana Bench comprising of Justice K. Lakshman, while adjudicating a writ petition filed in the matter of Ms. Kanumuru Rama Devi v M/s REC Limited, has held that as per Clause 3 of the RBI Master Circular on Wilful Defaulters dated 01.07.2015, the First Committee is not obligated to disclose its formation and composition in its …

High Court Writ Order Respondent Committee Rbi Bench
More Than 1,700 Big Wilful Defaulters Owe Rs 37,020 Crore to Punjab National Bank
4 years, 5 months ago

More Than 1,700 Big Wilful Defaulters Owe Rs 37,020 Crore to Punjab National Bank

News 18  

Winsome Diamond & Jewellery, Gitanjali Gems and ABG Shipyard are among the big wilful defaulters who together owe more than Rs 37,000 crore to Punjab National Bank as of the end of the first quarter of 2020-21. As many as 1,787 big wilful defaulters owe outstanding loans of Rs 37,020.27 crore at the end of June, according to the list …

Loan End Crore Pnb Defaulters Wilful Wilful Defaulters
Writ Jurisdiction Against 'Wilful Defaulter' Declaration By Identification Committee Attracted Only In Case Of Patent/Gross Illegality: Calcutta HC [Read Judgment]
4 years, 6 months ago

Writ Jurisdiction Against 'Wilful Defaulter' Declaration By Identification Committee Attracted Only In Case Of Patent/Gross Illegality: Calcutta HC [Read Judgment]

Live Law  

The Calcutta High Court has ruled that Courts, in exercise of their writ jurisdiction, can intervene on a declaration of Wilful Defaulter in the first instance only where the limited grounds of patent malafide, arbitrariness, bias or abuse of the process of law by the Identification Committee are established. Noting that t he grounds for declaration of wilful defaulter relied …

Jurisdiction Writ Jurisdiction Court Writ Case Review Committee
Technical loan write-off route should not be applied for fugitives: Chidambaram to govt
4 years, 8 months ago

Technical loan write-off route should not be applied for fugitives: Chidambaram to govt

Firstpost  

Senior Congress leader P Chidambaram on Wednesday asked the government why it had taken the technical loan write-off route for fugitives like Nirav Modi, Mehul Choksi and Vijay Mallya New Delhi: Senior Congress leader P Chidambaram on Wednesday asked the government why it had taken the technical loan write-off route for fugitives like Nirav Modi, Mehul Choksi and Vijay Mallya. …

Chidambaram Nirav Modi Vijay Mallya Wilful Defaulters Fugitives Mehul Choksi
Wilful defaulters beneficiaries of 'phone banking' under UPA regime, Modi govt chasing them to recover dues: Nirmala Sitharaman
4 years, 8 months ago

Wilful defaulters beneficiaries of 'phone banking' under UPA regime, Modi govt chasing them to recover dues: Nirmala Sitharaman

Firstpost  

Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA regime and the Modi government is chasing them to recover the dues New Delhi: Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA …

Finance Congress Gandhi Upa Modi Nirmala Sitharaman Defaulters
Wilful defaulters beneficiaries of ‘phone banking’ under UPA regime: Nirmala Sitharaman
4 years, 8 months ago

Wilful defaulters beneficiaries of ‘phone banking’ under UPA regime: Nirmala Sitharaman

The Hindu  

Hitting out at the Congress party, Finance Minister Nirmala Sitharaman has said that wilful defaulters were beneficiaries of ‘phone banking’ under the UPA regime and the Modi government is chasing them to recover the dues. She was responding to the opposition’s allegations of loan waivers worth ₹ 68,607 crore in the form of write-offs of top 50 wilful defaulters during …

Finance Congress Bank Loans Gandhi Upa Sitharaman
SBI Denies List Of Loan Defaulters Under RTI Act
5 years, 6 months ago

SBI Denies List Of Loan Defaulters Under RTI Act

Live Law  

Even as the Supreme Court has reiterated that the RBI is duty-bound to disclose list of wilful defaulters under the RTI Act, the State Bank of India, the largest bank in India, has denied the information to an RTI applicant saying the same involves commercial confidence and is held in a fiduciary capacity. Advocate and Chartered Accountant Nipun Singhvi had …

India Information Bank List Rbi Rti Sbi
Points of conflict
5 years, 8 months ago

Points of conflict

The Hindu  

The story so far: On April 26, the Supreme Court directed the Reserve Bank of India to disclose to the public the names of wilful defaulters on loans and also other information gathered by the central bank during its annual inspection of commercial banks. In January 2016, the RBI refused to comply with demands made by activists under the Right …

Court Information Bank Public Supreme Rbi Banks
CEOs of state banks can request for look-out notices against wilful defaulters, fraudsters
6 years, 1 month ago

CEOs of state banks can request for look-out notices against wilful defaulters, fraudsters

Firstpost  

Earlier this year, the government formed an inter-ministerial panel to look into various issues, including how to put a check on wilful defaulters fleeing the country. New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make a request for issuance of look-out circulars against suspects. However, …

Financial Services Country Kumar Mha Request Loc Circular
Govt authorises CEOs of public sector banks to request for look-out circulars against wilful defaulters
6 years, 1 month ago

Govt authorises CEOs of public sector banks to request for look-out circulars against wilful defaulters

Firstpost  

New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make a request for issuance of look-out circulars against suspects. However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting …

Country Kumar Mha Request Loc Circular Defaulters
Govt authorises public sector bank CEOs to request for look-out circulars against wilful defaulters
6 years, 1 month ago

Govt authorises public sector bank CEOs to request for look-out circulars against wilful defaulters

Live Mint  

New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make request for issuance of look-out circulars against suspects. However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting for …

Country Kumar Mha Request Loc Circular Defaulters
CIC again asks PMO, RBI to disclose wilful defaulters' list, Raghuram Rajan's letter on bad loans
6 years, 1 month ago

CIC again asks PMO, RBI to disclose wilful defaulters' list, Raghuram Rajan's letter on bad loans

India TV News  

Pulling up the Reserve Bank of India and the Prime Minister Office, the Central Information Commission has again directed them to disclose the list of wilful defaulters and Raghuram Rajan's letter on bad loans. The commission had earlier issued a show cause notice to RBI Governor Urijit Patel for "dishonouring" a Supreme Court judgment and CIC directive on disclosure of …

Information Commission Public Pti Rbi Act Parliament
News in Numbers: 9 political parties oppose simultaneous Lok Sabha and assembly polls
6 years, 6 months ago

News in Numbers: 9 political parties oppose simultaneous Lok Sabha and assembly polls

Live Mint  

14.2% What is it? The number of political parties opposed to simultaneous Lok Sabha and assembly elections. It gains significance in view of the speculation on whether the four assembly elections slated to be held in the next 6-8 months in Chhattisgarh, Rajasthan, Madhya Pradesh and Mizoram could be delayed or advanced to kick-start the first step towards synchronizing them …

India South Korea Number Pnb Cie Kharif Big Wilful Defaulters
Dues of PNB's big wilful defaulters fall 0.87% in June
6 years, 6 months ago

Dues of PNB's big wilful defaulters fall 0.87% in June

Live Mint  

New Delhi: Dues from big wilful defaulters of Punjab National Bank fell by 0.87% to ₹ 15,354.52 crore on 30 June compared to ₹ 15,490 crore as on 31 May 2018, bank data has showed. Big wilful defaulters owed PNB ₹ 15,171.91 crore in 2017-18, resulting in standalone net loss of ₹ 12,282.82 crore in 2017-18 as against a profit …

Bank Crore Pnb Npa Big Wilful Defaulters