After the Reserve Bank of India cracked the whip on as many as 12 major industrial enterprises in the first quarter of FY 2017 for unpaid dues, it has now asked lenders to act on as many as 28 more companies categorized as Non Performing Assets. The second list of companies includes names of major players in the metal industry such as Jayaswal Neco Industries, Visa Steel, Uttam Galva Steels, etc.
According to information the banking regulator had asked lenders to resolve the 28 accounts, which reportedly account for over INR 4 trillion in dues collectively, before December 13.
Efforts have been taken by a few companies to restructure the debt and according to media reports as many as 6 companies have been able to assure lenders of their potential to pay back dues. However, no confirmation in this regard has yet been released by any of the lenders.
The Banking Regulator had sternly asked lenders to either resolve the debt or refer the enlisted 28 companies to National Company Law Tribunal. The adjudicating authority would then decide whether proceedings under Insolvency and Bankruptcy Code are to be imitated against NPAs or not.
| S. No | Company Name | Line of Business/Products |
| 1 | Anrak Aluminium | Aluminium |
| 2 | Jayaswal Neco Industries | Cast Iron & Ductile Iron Fittings, Covers, Gratings etc |
| 3 | Soma Enterprises | Infrasturcture Developer, EPC |
| 4 | Jaiprakash Associates | Engineering & Construction, Power, EPC, Cement, Fertilizers, hospitality etc. |
| 5 | Asian Colour Coated Ispat | Downstream Steel products – CRFH, GI,PPGI |
| 6 | Castex Technologies | Cast Iron Automotive components |
| 7 | Coastal Projects | Infrastructure & Projects |
| 8 | East Coast Energy | Coal based Thermal Power plant |
| 9 | IVRCL | Projects – Water, Environmental, Transportation, Buildings, Power transmission |
| 10 | Orchid Pharma | Chemicals & Phamaceuticals |
| 11 | SEL Manufacturing | Textile conglomerate & sub-segments – spinning, knitting, processing of yarns and fabric etc. |
| 12 | Uttam Galva Steels | Downstream Steel products – CRCA, GI,PPGI |
| 13 | Uttam Galva Metallics | Non-Steel Products |
| 14 | Visa Steel | Steel – Bars, Flats, Rounds, Wire Rods; Ferrochrome & Coke |
| 15 | Essar Projects | Project EPC |
| 16 | Jai Balaji Industries | DRI, Pig Iron, Ferro Alloys, Ductile Iron, Induction Furnace Billets |
| 17 | Monnet Power | Power (Captive Power plant) |
| 18 | Nagarjuna Oil Refinery | EPC for projects related to extraction of Oil |
| 19 | Ruchi Soya | Food products include healthy cooking oils, nutritional soya foods, vanaspati and bakery fats |
| 20 | Wind World | Wind Energy Segment |
| 21 | Videocon Industries | Air Conditioners, TVs, Washing Machines, Refrigerators & Mobile phones |
| 22 | Videocon Telecom | Prepaid Telecom Services |
| 23 | BILT Graphics | Manufacturer of writing & printing paper |
| 24 | Shakti Bhog | Wheat Flour, Rice, Biscuits, Semoline |
| 25 | Unity Infra | Construction of buildings/housing, transportation, water supply and irrigation. |
| 26 | Transstroy India | Engineering & Construction – Irrigation & road projects |
| 27 | Ushdev International | Trading – Steel, Non-Ferrous & Raw Materials |
| 28 | GET Power Ltd | Designing, fabrication, supply, construction, and erection of transmission and distribution lines for power segment |
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