India’s largest public lender the State Bank of India (SBI) today revealed the names of 10 new big-ticket firms and their top officials and declared them as ‘wilful defaulters’.
The firms include players from pharmaceuticals, gems and jewelry, power, infrastructure, and other sectors, according to public notices issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade.
Mostly based in Mumbai, the defaulters have been served repeated reminders to clear their outstanding dues that are pegged at nearly Rs 1,500 crore.
The SBI has warned the borrowers of legal action if they fail to repay their dues with interest and other charges within the next 15 days.
(With Agency Inputs)
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