SC asks RBI to submit list of companies in default of bank loans

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The Supreme court on Tuesday asked the Reserve Bank of India to submit a list of the companies which are in default of loans by the banks and financial institutions who collectively owe more than Rs 500 crore to the banking system.

While asking the RBI to file an affidavit, the apex court bench headed by Chief Justivce G.S. Thakur directed that the list be furnished to it in a sealed cover.

The court said this as one of the counsel told the court about commercial confidentiality of the companies.

The court order came in the course of the hearing of a public interest litigation pointing to loans given by HUDCO in 2003 to some of the companies with questionable track records.

Wefornews Bureau

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