The Reserve Bank of India (RBI) identified 12 companies that collectively have outstanding loans to the melody of over Rs 4 lakh crore. These 12 accounts contribute to 25 percent of the total non-performing assets (NPA) of the banking system.
RBI will issue instructions to banks to initiate legal proceedings under the Bankruptcy and Insolvency Code (IBC) against these 12 accounts. The National Court of Societies (NCLT) will give priority to cases related to non-payment of loans.
1) Bhushan Steel: Rs 90,000 crore
2) Videocon Industries: Rs 58,000 crore
3) JP Group: Rs 55,000 crore
4) Esaar Limited: Rs 50,000 crore
5) Zindal Group: Rs 38,000 crore
6) Alok Industries: Rs 25,000 crore
7) Lanco: Rs 19,000 crore
8) AGG Ship Yard: Rs 15,000 crore
9) Punj Llyod: Rs 14,000 crore
10) Electrosteel Group: Rs 14,000 crore
11) Abbas Holdings: Rs 14,000 crore
12) Abaan Holdings: Rs 13,000 crore
