Ten Firms Tot Up 9% Of Sticky Assets

Loans availed of by ten firms (including those belonging to Harshad S Mehta) that turned bad or doubtful amounts to Rs 5326.96 crore, or nine per cent of total NPAs (above Rs 1 crore) declared by all banks and financial institutions.

The financial sector has total sticky assets of Rs 58,646.15 crore.

While the highest single NPA account was from IMFA's Kalinga Tube Division at Rs 918.24 crore, Harshad S Mehta firms accounted for a huge Rs 812.08 crore turning bad.

Parasampuria Synthetics Ltd was third at Rs 563.66 crore. Others in the list are Kripa Chemicals Ltd at Rs 494.81 crore, Mardia Chemicals at Rs 464.30 crore, JK Cotton Spinning & Weaving Mills Ltd at Rs 440.95 crore, Hindustan Photo Films Ltd at Rs 434.99 crore, FRAM International at Rs 409.02 crore, Patheja Brothers & Forging Ltd at 396.18 crore and Maradia Chemicals Ltd at Rs 392.73 crore.

 

Five companies availing of loans that ranged between Rs 300 crore to Rs 400 crore defaulted.

The number of companies in the NPA range of Rs 200 crore to Rs 300 crore is 11.

As many as 48 companies failed to pay back loans between Rs 100 crore to Rs 200 crore, while 117 companies defaulted on loans availed of in the range Rs 50 crore to Rs 100 crore.

According to a list compiled by the All India Bank Employees Association, some 191-odd companies have availed of a total of Rs 23,701.06 crore loans, all of which are above Rs 50 crore. All of this has either turned bad or doubtful.

The list also mentions that a huge Rs 37,809.38 crore disbursed by the national banks, in the form of loans above Rs 1 crore has turned bad. Loans disbursed by FIs in the category amounts to Rs 15,287.70 crore and the figure for private and foreign banks is Rs 5,549.07 crore.