Corporate defaulters News
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SBI has initiated insolvency proceedings before NCLT against Kolkata- based Electrosteel Steels to recover Rs 10,000 crore in loans as bankers tighten screws on big corporate defaulters.
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An online petition demanding launch of criminal proceedings against big corporate defaulters like businessman Vijay Mallya has gone viral on social media platform with over 1.10 lakh people signing the plea on technology platform Change.Org in this regard
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A bench headed by Chief Justice T S Thakur had last month directed the central bank to provide a list of companies which are defaulters of bank loans of over Rs 500 crore while expressing serious concern over rise in bad loans.
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Prime Minister Narendra Modi on Monday said that the government and RBI are taking tough action to recover dues from large corporate defaulters.
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