Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore
  • Business

    SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Nov 07, 2016, 04:54 pm
    SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore
  • India's largest public-sector bank, SBI, revealed that Mumbai-based Vindhyavasini Group has defaulted in payments of over Rs.1,000 crore to the bank.

    The report stated that all directors and promoters of the company are not traceable.

    The company's six associate subsidiaries are all wilful defaulters, according to reports.

    The Debt Recovery Tribunal has issued a notice to all the directors from leaving India without permission.

  • In this article
    SBI tops bad debts' chart SBI files case against Vindhyavasini Group, others RBI: Over Rs.85,000 crore pitched as default payments SBI's top 100 wilful defaulters SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore SBI's report reveals serious offences
  • 30 May 2015

    SBI tops bad debts' chart

    SBI tops bad debts' chart
  • Last year, data from the Credit Information Bureau showed that there was a massive jump in the number of wilful defaulters in the country.

    Wilful defaulters are those borrowers who have the capacity to repay, but default in payments.

    The figures compiled showed an increase of 90% last year.

    Reports stated that SBI had the highest list of wilful defaulters, with Rs.10,711 crore due.

  • Information

    SBI files case against Vindhyavasini Group, others

  • With nearly Rs.455 crore due from Vindhyavasini Steel Group, SBI filed charges against the rogue borrower last year. Apart from Vindhyavasini Group, the bank also filed cases against Zenith Birla and JB Diamond.

  • 24 Oct 2016

    RBI: Over Rs.85,000 crore pitched as default payments

    RBI: Over Rs.85,000 crore pitched as default payments
  • Last month, an RBI report revealed that 57 loan borrowers defaulted in payments that exceeded Rs.85,000 crore.

    The Supreme Court had earlier asked the RBI to submit a report of those borrowers who had defaulted in payments of over Rs.500 crore.

    The court also stated that if the bar is lowered to below Rs.500 crore, the default amount would exceed Rs.1 lakh crore.

  • 05 Nov 2016

    SBI's top 100 wilful defaulters

    SBI's top 100 wilful defaulters
  • Reports stated that India's top state-owned bank, SBI's top 100 wilful defaulters defaulted in payments that was pitched to be more than 60% of the bank's total money.

    Vijay Mallya's Kingfisher Airlines tops the list of wilful defaulters for the bank.

    Vindhyavasini Group's Shreem Corporation was touted to be top the list of defaulters who are refusing to pay the bank back.

  • 07 Nov 2016

    SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore

    SBI: Vindhyavasini Group's default payments cross Rs.1,000 crore
  • India's largest public-sector bank, SBI, revealed that Mumbai-based Vindhyavasini Group has defaulted in payments of over Rs.1,000 crore to the bank.

    The report stated that all directors and promoters of the company are not traceable.

    The company's six associate subsidiaries are all wilful defaulters, according to reports.

    The Debt Recovery Tribunal has issued a notice to all the directors from leaving India without permission.

  • Misdeeds

    SBI's report reveals serious offences

    SBI's report reveals serious offences
  • Reports showed that the promoters, Vijay R. Prasad Gupta and Ajay R. Prasad Gupta, are absconding and the companies have not filed their balance sheet since 2010.

    In 2013, the company's accounts fell to non-performing assets for the bank.

    A forensic audit study held by accounting firm Deloitte Touche Tohmatsu showed that the company had diverted funds and the reports indicated serious offences.

  • India
  • Kingfisher Airlines
  • Vijay Mallya
  • Supreme Court
  • SBI
  •  
Latest News
  • Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    India
  • #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    Lifestyle
  • Premier League, Chelsea 0-0 Manchester United: Records broken
    Premier League, Chelsea 0-0 Manchester United: Records broken
    Sports
  • Will Smith's new docuseries harps on America's birth of citizenship
    Will Smith's new docuseries harps on America's birth of citizenship
    Entertainment
  • #HealthBytes: A beginner's guide to working out at home
    #HealthBytes: A beginner's guide to working out at home
    Lifestyle
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021