Lok Sabha Question No. 337 (STARRED), answered on 2026-03-16
Subject: Wilful Defaulters of Loan
Ministry: FINANCE
Asked by: Shri Kalipada Saren Kherwal

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA STARRED QUESTION NO. *337

ANSWERED ON MONDAY, 16 MARCH, 2026 / PHALGUNA 25, 1947 (SAKA)

## Wilful Defaulters of Loan

## *337. SHRI KALIPADA SAREN KHERWAL:

Will the Minister of FINANCE be pleased to state:

- (a) the number of wilful defaulters failing to repay bank loans since 2014, year-wise details along with amount (in Rs.);

- (b) the names of top ten wilful defaulters along with amount (in Rs.) since 2014;

- (c) whether it is a fact that the wilful defaulters can enter into a compromised settlement with the banks; and

- (d) if so, the details thereof along with the action taken by the Government in this regard?

## ANSWER

## FINANCE MINISTER (SMT. NIRMALA SITHARAMAN)

(a) to (d): A statement is laid on the Table of the House.

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## Statement referred to in reply to parts (a)  to (d) in respect of Lok Sabha Starred Question No. *337 for  reply  on  16.03.2026  regarding  Wilful  Defaulters  of  Loan  asked  by  Shri  Kalipada  Saren Kherwal.

(a)  to  (d):  Reserve  Bank  of  India  (RBI), vide Master  Directions on  Treatment of Wilful Defaulters and Large  Defaulters,  has  advised  lenders to  submit  the  list  of  wilful  defaulters  to  all  Credit  Information Companies (CICs) on a monthly  basis, and CICs are  required  to  display  the  same  on  their  respective websites. The details of the same are available on and  can be accessed at the following URL of CICs, registered with and regulated by RBI:

- (i) suit.cibil.com,
- (ii) suit.experian.in,
- (iii) equifax.co.in, and
- (iv) crifhighmark.com

RBI has apprised that as per the data provided by TransUnion CIBIL Limited, as on 27.2.2026, the details of Wilful Defaulters (Suit-Filed & Non-Suit Filed) as on 31 st  March of each financial year from 2014 till 2025 along with corresponding aggregate outstanding amount and the names of top ten wilful defaulters along with amount as reported by all the reporting entities, are at Annex-1 and Annex-2 , respectively.

As per inputs received from RBI, a bank may undertake compromise settlements in respect of accounts categorized  as  wilful  defaulters  without  prejudice  to  the  criminal  proceeding  underway  against  such borrowers. The primary regulatory objective behind allowing wilful defaulters to enter into compromise settlement is to enable multiple avenues to lenders to recover the money in default without much delay. Apart  from  the  time  value  loss,  inordinate  delays  result  in  asset  value  deterioration  which  hampers ultimate recoveries. Compromise settlement is recognised as a valid resolution mechanism under RBI's (Commercial  Banks -Resolution  of  Stressed  Assets)  Directions,  2025.  Further,  the  imperatives  for lenders  are  no  different  when  it  comes  to  recovery  from  borrowers  classified  as  wilful  defaulter. Continuing  such  exposures  on  the  balance  sheets  of  the  lenders  without  resolution  due  to  legal proceedings  locks  lenders'  funds  in  an  unproductive  asset,  which  is  not  a  desirable  position.  Further, continuation of criminal proceedings underway or to be initiated against the borrowers classified as wilful defaulter  ensures  that  perpetrators  of  any  malafide  action  do  not  go  scot-free.  Further,  compromise settlement is not available to borrowers as a matter of right; rather it is a discretion to be exercised by the lenders based on their commercial judgement. Also, proposals for compromise settlements in respect of debtors classified as wilful defaulter are required to be approved by lenders' Board.

In respect of borrowers subject to compromise settlements, there shall be a cooling period as determined by  the  respective  Board-approved  policies  before  the  bank  can  assume  fresh  exposures  to  such borrowers.  Therefore,  as  per  the  guidelines  issued  under  the  RBI  (Commercial  Banks -Treatment  of Wilful Defaulters and Large Defaulters) Directions, 2025 dated 28.11.2025, any compromise settlement with  a  wilful  defaulter  must  satisfy  the  requirements  stipulated  in  the  RBI  (Commercial  Banks -Resolution of Stressed Assets) Directions, 2025.

Further,  comprehensive  measures  have  been  taken  to  deter  instances  of  wilful  default.  Such  measures include, inter alia , the following:

- (1) Initiation of criminal proceedings by the bank
2. (i) Based  on  the  facts  and  circumstances  of  each  case,  banks  to  examine  whether  initiation  of criminal  proceedings  against  wilful  defaulters  under  the  provisions  of  the  applicable  law,  is warranted.
3. (ii) In  cases  where  criminal  proceedings  have  been  initiated,  removal  of  the  name  of  a  wilful defaulter  from  the  List  of  Wilful  Defaulters  (LWD)  shall  be  without  prejudice  to  the continuation of criminal proceedings against the wilful defaulter.
- (2) Banks to formulate a non-discriminatory board-approved policy that clearly sets out the criteria based on which the photographs of persons classified and declared as wilful defaulter shall be published.
- (3) No additional credit facility shall be granted by the  bank  to  the wilful defaulter or any entity with which  the  wilful  defaulter  is  associated.  Further,  wilful  defaulters  and  companies  with  wilful defaulters as promoters/directors have been debarred from accessing capital markets to raise funds.
- (4) The bar on additional credit facility to the wilful defaulter or any entity with which the wilful defaulter is associated shall be effective for a period of one year after the name of the wilful defaulter has been removed from the LWD by the lenders.
- (5) No credit facility shall be granted by the bank for floating of new ventures to the wilful defaulter or any entity with which the wilful defaulter is associated for a period of five years after the name of wilful defaulter has been removed from the LWD by the lenders.
- (6) Wilful  defaulters  or  any  entity  with  which  a  wilful  defaulter  is  associated  shall  not  be  eligible  for restructuring of credit facility. Subsequent to removal of the name of wilful defaulter from the LWD, the  wilful  defaulter  or  any  entity  with  which  a  wilful  defaulter  is  associated  shall  be  eligible  for restructuring, as per the stipulations contained in the Reserve Bank of India (Commercial Banks -Resolution of Stressed Assets) Directions, 2025.

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## Lok Sabha Starred question no. *337, regarding Wilful Defaulters of Loan Details of Wilful Defaulters as on 27.2.2026

(Amounts in lakh Rs.)

| As on     | Total number of Wilful Defaulters of Rs. 25 lakh and above   | Total amount outstanding with Wilful Defaulters of Rs. 25 lakh and above   |
|-----------|--------------------------------------------------------------|----------------------------------------------------------------------------|
| 31.3.2014 | 5,076                                                        | 39,36,925                                                                  |
| 31.3.2015 | 7,574                                                        | 69,80,854                                                                  |
| 31.3.2016 | 9,070                                                        | 89,88,924                                                                  |
| 31.3.2017 | 9,675                                                        | 1,07,66,950                                                                |
| 31.3.2018 | 11,259                                                       | 1,43,93,575                                                                |
| 31.3.2019 | 12,140                                                       | 1,93,80,637                                                                |
| 31.3.2020 | 12,822                                                       | 2,18,72,788                                                                |
| 31.3.2021 | 13,845                                                       | 2,62,25,350                                                                |
| 31.3.2022 | 16,005                                                       | 3,07,73,463                                                                |
| 31.3.2023 | 17,968                                                       | 3,60,47,191                                                                |
| 31.3.2024 | 18,876                                                       | 3,64,92,783                                                                |
| 31.3.2025 | 18,318                                                       | 3,83,26,453                                                                |

Source: TransUnion CIBIL Limited

## NOTE:

- (1) The above report contains the total number and amount in the Wilful Defaulters of Rs. 25 lakh and above reported by the credit institutions and successfully ingested in the repository (Suit Filed and Non-Suit Filed).
- (2) The above information on wilful defaulters is extracted as on February 27, 2026 from Suit Filed and Non-Suit Filed Repositories for the period ending March 2014 till March 2025. Any changes to the data post the extraction date was not considered.
- (3) The requirement to report Defaulters of ₹ 1 crore and above (non -suit filed) and Wilful Defaulters of ₹ 25 lakh and above  (non -suit  filed)  to  RBI/CICs  came  into  effect  only  post  issuance  of  the  RBI  circular  dated  27.6.2014. Accordingly, information for the year March 2014 is not available with TransUnion CIBIL Limited.

*****

## Lok Sabha Starred question no. *337, regarding Wilful Defaulters of Loan Name and total amount of top ten Wilful Defaulters as on 27.2.2026

(Amounts in lakh Rs.)

| As on 31.3.2014 #   | As on 31.3.2014 #                                                | As on 31.3.2014 #   |
|---------------------|------------------------------------------------------------------|---------------------|
| S. N.               | Borrower Name                                                    | Total Amount        |
| 1                   | Zoom Developers Private Limited                                  | 1,89,030            |
| 2                   | Beta Naphthol                                                    | 69,240              |
| 3                   | MBS Jewellers Private Limited                                    | 52,003              |
| 4                   | Deccan Chronicle Holdings Limited                                | 50,154              |
| 5                   | Raza Textiles Limited                                            | 47,645              |
| 6                   | Parekh Platinum Limited                                          | 44,852              |
| 7                   | XL Energy Limited                                                | 41,184              |
| 8                   | Rank Industries Limited                                          | 39,591              |
| 9                   | NAFED                                                            | 38,377              |
| 10                  | Agnite Education Limited (Formerly Teledata Informatics Limited) | 33,518              |

| As on 31.3.2015   | As on 31.3.2015                            | As on 31.3.2015   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | Zoom Developers Pvt Ltd                    | 1,25,237          |
| 2                 | Winsome Diamonds & Jewellery Ltd.          | 1,04,618          |
| 3                 | Beta Naphthol                              | 77,431            |
| 4                 | Forever Precious Jewellery & Diamonds Ltd. | 74,798            |
| 5                 | S Kumars Nationwide Limited (SKNL)         | 70,193            |
| 6                 | Winsome Diamonds & Jewellery               | 63,949            |
| 7                 | Raza Textiles Limited                      | 59,905            |
| 8                 | Winsome Diamonds & Jewellery Ltd           | 54,926            |
| 9                 | Deccan Chronicle Holdings Ltd              | 52,734            |
| 10                | Rank Industries Limited.                   | 46,895            |

| As on 31.3.2016   | As on 31.3.2016                            | As on 31.3.2016   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | Zoom Developers Pvt Ltd                    | 1,48,547          |
| 2                 | Winsome Diamonds & Jewellery Ltd           | 1,33,434          |
| 3                 | Kingfisher Airlines Ltd                    | 1,20,140          |
| 4                 | Winsome Diamonds & Jewellery Ltd.          | 1,04,587          |
| 5                 | Beta Naphthol                              | 99,684            |
| 6                 | Deccan Chronicle Holdings Ltd              | 93,668            |
| 7                 | S Kumars Nationwide Limited                | 83,423            |
| 8                 | Forever Precious Jewellery & Diamonds Ltd. | 80,565            |
| 9                 | Raza Textiles Limited                      | 73,609            |
| 10                | Kingfisher Airlines Ltd.                   | 69,550            |

| As on 31.3.2017   | As on 31.3.2017                            | As on 31.3.2017   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | Kingfisher Airlines Ltd                    | 2,32,279          |
| 2                 | Zoom Developers Pvt Ltd                    | 1,36,337          |
| 3                 | Winsome Diamonds & Jewellery Ltd           | 1,33,434          |
| 4                 | Beta Naphthol                              | 1,19,939          |
| 5                 | REI Agro Ltd                               | 1,05,430          |
| 6                 | Winsome Diamonds & Jewellery Ltd.          | 1,04,551          |
| 7                 | Deccan Chronicle Holdings Ltd              | 93,581            |
| 8                 | Raza Textiles Limited                      | 92,897            |
| 9                 | S Kumars Nationwide Limited                | 83,423            |
| 10                | Forever Precious Jewellery & Diamonds Ltd. | 80,565            |

| As on 31.3.2018   | As on 31.3.2018                   | As on 31.3.2018   |
|-------------------|-----------------------------------|-------------------|
| S. N.             | Borrower Name                     | Total Amount      |
| 1                 | ABG Shipyard Ltd                  | 1,87,490          |
| 2                 | Kudos Chemie Ltd.                 | 1,68,368          |
| 3                 | Zoom Developers Pvt Ltd           | 1,65,657          |
| 4                 | Beta Naphthol                     | 1,44,304          |
| 5                 | Winsome Diamonds & Jewellery Ltd  | 1,33,442          |
| 6                 | Kingfisher Airlines Ltd           | 1,21,808          |
| 7                 | Raza Textiles Limited             | 1,17,240          |
| 8                 | REI Agro Ltd                      | 1,15,570          |
| 9                 | Kingfisher Airlines Ltd           | 1,10,584          |
| 10                | Winsome Diamonds & Jewellery Ltd. | 1,04,551          |

| As on 31.3.2019   | As on 31.3.2019                            | As on 31.3.2019   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | M/S Gitanjali Gems Ltd                     | 4,63,352          |
| 2                 | ABG Shipyard Ltd                           | 1,87,490          |
| 3                 | Zoom Developers Pvt Ltd                    | 1,87,220          |
| 4                 | Promoter/ Directors of ABG Shipyard Ltd.   | 1,82,376          |
| 5                 | Kudos Chemie Ltd.                          | 1,73,710          |
| 6                 | Beta Naphthol                              | 1,73,613          |
| 7                 | Ruchi Soya Industries Ltd                  | 1,62,398          |
| 8                 | Directors & Promoter of Amtek Auto Limited | 1,57,448          |
| 9                 | Raza Textiles Limited                      | 1,47,961          |
| 10                | M/S Gili India Limited                     | 1,44,543          |

| As on 31.3.2020   | As on 31.3.2020                            | As on 31.3.2020   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | Gitanjali Gems Ltd                         | 5,00,704          |
| 2                 | ABG Shipyard Ltd                           | 2,29,294          |
| 3                 | Beta Naphthol                              | 2,09,021          |
| 4                 | Raza Textiles Limited                      | 1,86,850          |
| 5                 | Promoter/ Directors of ABG Shipyard Ltd.   | 1,82,376          |
| 6                 | Zoom Developers Pvt Ltd                    | 1,82,080          |
| 7                 | Kudos Chemie Ltd.                          | 1,73,710          |
| 8                 | Directors & Promoter of Amtek Auto Limited | 1,57,448          |
| 9                 | Gili India Limited                         | 1,44,543          |
| 10                | Sterling Global Oil Resources Pvt Ltd      | 1,28,042          |

| As on 31.3.2021   | As on 31.3.2021                            | As on 31.3.2021   |
|-------------------|--------------------------------------------|-------------------|
| S. N.             | Borrower Name                              | Total Amount      |
| 1                 | Gitanjali Gems Ltd                         | 5,49,148          |
| 2                 | ABG Shipyard Ltd                           | 3,02,911          |
| 3                 | Beta Naphthol                              | 2,51,411          |
| 4                 | Raza Textiles Limited                      | 2,35,812          |
| 5                 | Shakti Bhog Foods Limited                  | 2,34,155          |
| 6                 | Zoom Developers Pvt Ltd                    | 2,06,785          |
| 7                 | Promoter/ Directors of ABG Shipyard Ltd.   | 2,06,774          |
| 8                 | Directors & Promoter of Amtek Auto Limited | 1,78,452          |
| 9                 | Kudos Chemie Ltd.                          | 1,73,658          |
| 10                | Concast Steel & Power Limited              | 1,68,463          |

| As on 31.3.2022   | As on 31.3.2022                                    | As on 31.3.2022   |
|-------------------|----------------------------------------------------|-------------------|
| S. N.             | Borrower Name                                      | Total Amount      |
| 1                 | Gitanjali Gems Ltd                                 | 6,17,353          |
| 2                 | ABG Shipyard Ltd                                   | 3,02,531          |
| 3                 | Beta Naphthol                                      | 3,02,457          |
| 4                 | Raza Textiles Limited                              | 2,97,603          |
| 5                 | Unitech Limited                                    | 2,67,692          |
| 6                 | Sterling Global Oil Resources Pvt Ltd              | 2,28,008          |
| 7                 | Shakti Bhog Foods Limited                          | 2,23,780          |
| 8                 | Zoom Developers Pvt Ltd                            | 2,16,617          |
| 9                 | Erstwhile Promoter/ Directors of ABG Shipyard Ltd. | 2,06,774          |
| 10                | Allied Steels Limited                              | 2,04,240          |

| As on 31.3.2023   | As on 31.3.2023                                                       | As on 31.3.2023   |
|-------------------|-----------------------------------------------------------------------|-------------------|
| S. N.             | Borrower Name                                                         | Total Amount      |
| 1                 | Gitanjali Gems Ltd                                                    | 6,17,352          |
| 2                 | Erstwhile Directors/Guarantors/ GCGS of Bhushan Power & Steel Limited | 3,81,082          |
| 3                 | Raza Textiles Limited                                                 | 3,75,586          |
| 4                 | Beta Naphthol                                                         | 3,63,862          |
| 5                 | ABG Shipyard Ltd.                                                     | 3,31,808          |
| 6                 | ABG Shipyard Ltd                                                      | 2,87,383          |
| 7                 | Ex Directors of Dewan Housing Finance Corporation Ltd                 | 2,82,710          |
| 8                 | Unitech Limited                                                       | 2,67,692          |
| 9                 | Sterling Global Oil Resources Pvt Ltd                                 | 2,26,292          |
| 10                | Shakti Bhog Foods Limited                                             | 2,23,778          |

| As on 31.3.2024   | As on 31.3.2024                                                       | As on 31.3.2024   |
|-------------------|-----------------------------------------------------------------------|-------------------|
| S. N.             | Borrower Name                                                         | Total Amount      |
| 1                 | Gitanjali Gems Ltd                                                    | 6,22,879          |
| 2                 | Raza Textiles Limited                                                 | 4,74,303          |
| 3                 | Beta Naphthol                                                         | 4,37,946          |
| 4                 | Erstwhile Directors/Guarantors/ GCGS of Bhushan Power & Steel Limited | 3,81,082          |
| 5                 | ABG Shipyard Ltd.                                                     | 3,31,808          |
| 6                 | ABG Shipyard Ltd                                                      | 2,84,583          |
| 7                 | Ex Directors of Dewan Housing Finance Corporation Ltd                 | 2,82,710          |
| 8                 | Rank Industries Limited.                                              | 2,29,047          |
| 9                 | Sterling Global Oil Resources Pvt Ltd                                 | 2,26,292          |
| 10                | Shakti Bhog Foods Limited                                             | 2,23,778          |

| As on 31.3.2025   | As on 31.3.2025                                                       | As on 31.3.2025   |
|-------------------|-----------------------------------------------------------------------|-------------------|
| S. N.             | Borrower Name                                                         | Total Amount      |
| 1                 | ABG Shipyard Limited                                                  | 6,69,530          |
| 2                 | Gitanjali Gems Ltd                                                    | 6,23,655          |
| 3                 | Beta Napthol Ltd                                                      | 5,26,848          |
| 4                 | Rakeshkumar Kuldipsingh Wadhawan                                      | 4,29,123          |
| 5                 | Erstwhile Directors/Guarantors/ GCGS of Bhushan Power & Steel Limited | 3,81,082          |
| 6                 | Raza Textiles Limited                                                 | 3,26,000          |
| 7                 | Gilt Pack Limited.                                                    | 3,08,071          |
| 8                 | ABG Shipyard Ltd                                                      | 2,84,583          |
| 9                 | Rank Industries Limited.                                              | 2,65,504          |
| 10                | Housing Development and Infrastructure Limited                        | 2,54,093          |

Source: TransUnion CIBIL Limited

## NOTE:

- (1) The top 10 borrowers are determined based on the borrower names reported by each Credit Institutions. Variations in how these names are reported by different institutions may lead to differences or discrepancies in identifying the Top 10 borrowers. For example: Rakesh Kumar and Kumar Rakesh are considered as two different borrowers for arriving at the borrower level outstanding.
- (2) Based  on  the  borrower  names  reported  by  each  Credit  Institution,  along  with  the  total  outstanding  amount  ( ₹ in Lakhs) reflected in both the Suit -Filed and Non -Suit -Filed repositories, the Top 10 Wilful Defaulters as on 31st March for each year from 2014 to 2025 have been compiled.
- (3) The above information on wilful defaulters is extracted as on February 27, 2026 from Suit Filed and Non-Suit Filed Repositories for the period ending March 2014 till March 2025. Any changes to the data post the extraction date was not considered.
- (4) # The requirement to report Defaulters of ₹ 1 crore and above (non -suit filed) and Wilful Defaulters of ₹ 25 lakh and above  (non -suit  filed)  to  RBI/CICs  came  into  effect  only  post  issuance  of  the  RBI  circular  dated  27.6.2014. Accordingly, information for the year March 2014 is not available with TransUnion CIBIL Limited.

*****