September 4, 2026
#Business

SBI names 10 Mumbai-based big-ticket ‘wilful defaulters’

The State Bank of India today revealed the names of 10 new big-ticket firms from the pharmaceuticals, gems and jewellery and power sectors and also their top officials as it declared them ‘wilful defaulters’.

The defaulters also include players from the infrastructure and other sectors, according to public notices issued by the Stressed Assets Management Branch 1, Cuffe Parade.

Raigad-based Loha Ispaat Ltd. has an outstanding of Rs 287 crore and its CMD is Rajesh G Poddar, while other directors named are Anju Poddar , Manish O Garg and Sanjay Bansal.

The biggest defaulter on the list, with an outstanding of over Rs 347 crore is Spanco Ltd. The company has its office in Godrej Coliseum, Sion, and its two directors Kapil Puri and his wife Kavita Puri live in Chembur.

Following them is Auro Gold Jewellery Pvt Ltd from Lower Parel, with an outstanding of Rs 229 crore. Its chairman Amritlal G Jain and his son and MD Ritesh Jain have been named as ‘wilful defaulters’.

The others on the list include directors Imran Khan and Mohammed I Khan of Excel Metal Processors Pvt Ltd with loans worth Rs 61.26 crore; directors Hrishikesh Shah and Jaykishan Shah of Microcosm Infrastructure & Power Pvt Ltd with Rs 56.73 crore; and Metal Link Alloys Ltd. chairman Bhavarlal M Jain, MD Rajmal M. Jain and their father and director Mangilal G Jain with an outstanding of Rs 53.79 crore.

SBI names 10 Mumbai-based big-ticket ‘wilful defaulters’

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