Revealed: From Kingfisher to Lloyds, here are top 10 wilful defaulters of India

The list of Wilful Defaulters and Defaulting Borrowers has been released by Reserve Bank of India as claimed by Newslaundry. The list places corporate bad debts in the banking system at Rs 5 lakh crore as of December 24, 2015.

The list first revealed by Newslaundry, names all the top 10 defaulters.

1. Usha Ispat: Usha Ispat is a metals and mining industry with Rs 16,911 crore outstanding amount and willful defaults of Rs 5,093 crore. Its key creditor is LIC.

2, Lloyds Steel: The second on the list is Lloyds Steel with an outstanding amount of Rs 9,478 crore and total wilful defaults of Rs 6,309 crore. Its key creditor is Bank of India. This company is now acquired by Uttam Galva Group

3. Hindustan Cables Ltd: The telecom cables company has an outstanding amount of Rs 4,917 crore and its key creditor is Bank if India. This company is now winding up.

4. Hindustan Photofilms MFG co: The Photo Films company is the fourth defaulter with Rs 3,929 crore as an outstanding amount credited by LIC. This company is not functional anymore.

5. Zoom Developers: The Real estate company has an outstanding amount of Rs 3,843 crore with Rs 137 crore wilful defaults. Oriental Bank of Commerce is its key creditor.

6. Prakash Industries: Prakash Industries is a mining, steel and power company with an outstanding amount of Rs 3,665 crore and wilful defaults of Rs 2,233 crore. Its key creditor is also LIC. This company is operational.Prakash Industries is a mining, steel and power company with an outstanding amount of Rs 3,665 crore and wilful defaults of Rs 2,233 crore. Its key creditor is also LIC. This company is operational.

7. Cranes Software International: The IT company has Rs 3,580 crore outstanding amount with Rs 2505 crore wilful defaults. Its key creditor is Bank of India. This company is operational.

8. Prag Bosimi Synthetics: The eighth wilful defaulter is Prag Bosimi Synthetics which is a textile industry with an outstanding amount of Rs 3,558 crore credited by IDBI Bank. This company is operational.

9. Kingfisher Airlines: The most talked about aviation company Kingfisher Airlines is the ninth wilful defaulter with an outstanding amount of Rs 3,259 crore. Its key creditor is Punjab national Bank. This company is closed. 

10. Malvika Steel: The steel industry has an outstanding amount of Rs 3057 crore and its key creditor is GIC. This company is closed. 

These are accounts against which banks have not taken any legal action. In banker-speak, they are non-suit filed accounts. Of these accounts, only Rs 1.08 lakh crore are labelled as wilful defaults.

Of the 10 companies, four are public sector undertakings: Hindustan Cables, Hindustan Photo Films, Prag Bosimi and Malvika Steel. Prag Bosimi Synthetics is the only industrial venture of public-private partnership in the Northeast.