RBI to issue second list of 40 defaulters. RBI is making the second list of big loan defaulters. There can be names of 30-40 companies, including Videocon, Castex Technologies, Visa Steele and JSPL. ET Now has given this news. It is being told that most of the companies in this list belong to Infrastructure and Power Sectors. ET Now told the sources that the second list can be issued in September.
RBI to issue second list of 40 defaulters
On Tuesday, after the news came, the share of Visa Steel fell by 1.24% to Rs 19.90. In the last three months, the stock has lost 26% and 60% in the last five years. The share of Videocon fell 3% on Tuesday to Rs 18.35. In the last three months, its market capitalization has reduced by 60%. In the last five years, the stock has lost value of 90%. The share of Uttam Galois dropped by 0.56% to 26.70 rupees. In the past three months this stock has declined by 13%. JSPL’s shares were down 2.5% on Tuesday to Rs 132.45.
In the last three months it was 10% faster.
RBI may advise lenders to take the case of these companies to the National Company Law Tribunal for action of bankers. When contacted, JSPL told ET Now, “We do not answer questions based on speculation.” In these cases, the level of debt is between Rs 3,000 crore and Rs 50,000 crore. The questions that ET NOW had asked of the best Galois and Videocon did not get the answer.
RBI Deputy Governor R. Gandhi told ET Now, “Nobody should think that only the first list of companies was a problem. There is a problem ahead of them. ‘ Gandhi said that the RBI had issued the first list of major defaulting companies, then these companies were also alerted. He said that then the banks and these companies should have taken steps to resolve their issues. Gandhi said that since steps are not being taken to solve the problem itself, then working under legal process will have to be done. In June, the RBI’s International Advisory Committee had selected twelve accounts of Corporate Borrowers for Insolvency Prosdings under the Insolvency and Bankruptcy Code.