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Business

SBI reveals names of 10 big 'wilful defaulters'

Mumbai, June 28

The State Bank of India on Friday revealed the names of 10 new big-ticket firms and their top officials and declared them as "wilful defaulters".

The firms include players from pharmaceuticals, gems and jewellery, power, infrastructure and other sectors, according to public notices issued by the Stressed Assets Management Branch 1 (SAM-1), Cuffe Parade.

Mostly based in Mumbai, the defaulters have been served repeated reminders to clear their outstanding that are pegged at nearly Rs 1,500 crore.

The SBI has warned the borrowers of legal action if they fail to repay their dues with interest and other charges within the next 15 days.