The Reserve Bank of India (RBI) has admitted that it has waived loans worth Rs 68,607 crore of 50 top willful defaulters. The name of absconding diamond businessman Mehul Choksi is also included in this. This information has come from an RTI application. Leading RTI activist Saket Gokhale had filed an RTI application to get information about the current status of his loan by 16 February to get information about the 50 top willful defaulters (willful defaulters).

Gokhale said that I filed this RTI because Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur refused to answer this starred question asked by Congress MP Rahul Gandhi in Parliament in the last budget session on February 16, 2020 Was

Gokhale said that while disclosing the fact that the government did not disclose, the Central Public Information Officer of the RBI, Abhay Kumar, provided this answer on Saturday 24 April, which included many shocking revelations.

The RBI said that this amount (Rs 68,607 crore) includes the outstanding funds, and technically and judiciously this entire amount has been waived till September 30, 2019.

Gokhale said, “The apex bank refused to provide relevant information on foreign borrowers, referring to a Supreme Court judgment of December 16, 2015.”

In this list of 50 top willful defaulters, Mehul Choksi’s corruption-ridden company Gitanjali Gems Limited tops, with a liability of Rs 5,492 crore. Apart from this, other group companies are Gili India Limited and Nakshatra Brands Limited, which took loans of Rs 1,447 crore and Rs 1,109 crore respectively.

Choksi is currently a citizen of Antigua and Barbados Iceland, while his nephew and another fugitive, Diamond merchant Nirav Modi, is in London.

The second place in this list is REI Agro Limited, which took loans of Rs 4,314 crore. Its directors Sandeep Jhunjhunwala and Sanjay Jhunjhunwala have been under the investigation of the Enforcement Directorate (ED) for more than a year.

The next name in the list is that of fugitive diamond trader Jatin Mehta’s Winsome Diamonds and Jewelery, which has taken a loan of Rs 4076 crore, and the Central Bureau of Investigation is investigating it for various bank frauds.

Rotmac Global Pvt. Ltd., Kanpur, in the category of two thousand crores rupees. Hai, which is part of the famous Kothari group, and has taken a loan of Rs 2,850 crore.

Other names in this category include Kudos Chemie, Punjab (Rs 2,326 crore), Baba Ramdev and Balakrishna’s group company Ruchi Soya Industries Ltd, Indore (Rs 2,212 crore), and Zoom Developers Pvt. Ltd., Gwalior (2,012) Crore rupees).

In this list, 18 companies are in the category of debt of one thousand crores, out of which some prominent names are Harish R. Mehta’s Ahmedabad Precious Precious Jewelery and Diamonds Pvt. Ltd. (1962 crore rupees), and fugitive liquor businessman Vijay Mallya’s closed company Kingfisher Airlines Limited (Rs 1,943 crore).

Apart from this, 25 companies are like this, due to which there are outstanding loans from one thousand crores. These range from Rs 605 crore to Rs 984 crore. These loans are either taken individually, or as group companies.

Gokhale said, “Most of them have defrauded the major nationalized banks during the last few years and many of them are either absconding or are facing the action of various investigating agencies and some are facing trial.”

Six of the top 50 willful defaulters belong to the diamond or gold jewelery industry. There is no industry left in this matter, as these 50 top willful defaulters are spread across various sectors of the economy including IT, infrastructure, electricity, gold-diamond jewelery, pharma, etc.


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