November 18, 2016 7:25 PM

printer

Disclosure of big defaulters' names will not lead anywhere: SC

The Supreme Court today said that disclosure of names of debtors, who owe 500 crore rupees and more to banks, will not lead anywhere as the important issue is to address root cause of accumulation of non-performing assets. <br/><br/>A bench comprising Chief Justice T S Thakur and Justices A M Khanwilkar and D Y Chandrachud said the real cause is to address the root cause of NPAs and how to solve it. <br/><br/>The apex court, time and again, has been asking the Reserve Bank of India and the Centre about the possibility of disclosing names of those who have defaulted in repaying bad loans to banks to the tune of 500 crore rupees and more. <br/><br/>The bench asked Solicitor General Ranjit Kumar, appearing for the Centre and RBI, to file an affidavit within four weeks detailing steps taken to overhaul debt recovery system and laws dealing with quasi-judicial bodies like the Debt Recovery Tribunal and the Debt Recovery Appellate Tribunal.<br/><br/>Earlier, the apex court was informed that only 57 borrowers have defaulted on bank loans amounting to a whopping 85,000 crore rupees.

Most Read
View All arrow-right

No posts found.