In the last five years, BEC has taken loan of Rs 10 lakh crore: Government

The government has said in a statement that loans worth Rs 10 lakh crore have been waived off in the last five financial years. In the financial year 2021-22, debt of Rs 1,57,096 crore has been diverted. Which is less than the amount for the financial year 2020-21. In the financial year 2020-21, debt of […]
 


In the last five years, BEC has taken loan of Rs 10 lakh crore: Government

The government has said in a statement that loans worth Rs 10 lakh crore have been waived off in the last five financial years. In the financial year 2021-22, debt of Rs 1,57,096 crore has been diverted. Which is less than the amount for the financial year 2020-21.

In the financial year 2020-21, debt of Rs 2,02,781 crore was diverted. In the financial year 2019-20, debt of Rs 2,34,170 crore was diverted. In 2018-19, this amount was Rs 2,36,265 crore.

The loan amount waived in 2017-18 was Rs 1,61,328 crore. From 2017-18 to 2021-22, a total of Rs 9,91,640 crore has been waived by banks.

According to the government, the number of willful defaulters in the last four years is 10,306. The maximum number of willful defaulters in the financial year 2020-21 was 2840. Whereas in the financial year 2021-22, the number of willful defaulters was 2700. In 2018-19 this number was 2007 while in 2019-20 it was 2469.

The top five willful defaulters are Gitanjali Gems, Era Infra Engineering, Concast Steel & Power, REI Agro Limited and ABG Shipyard.

Fugitive diamond merchant Mehul Choksi’s company Gitanjali Gems gave Rs 7110 crore to banks, Era Infra Engineering Rs 5879 crore, Concast Steel and Power Ltd Rs 4107 crore, REI Agro Ltd Rs 3984 crore and ABG Shipyard Ltd Rs 3708 crore. have not paid.

Other willful defaulters include Frost International Ltd (Rs 3108 crore), Winsome Diamond & Jewelery (Rs 2671 crore), Rotomac Global Pvt Ltd (Rs 2481 crore), Coastal Projects Ltd (Rs 2311 crore) and Kudos Chemicals (Rs 2082 crore). Huh.