The State Bank of India (SBI) has written off loans worth about Rs 7,016 crore owed to it by 63 wilful defaulters, according to a report by Daily News & Analysis. It includes the loan amounting to Rs 1,201 crore given to Vijay Mallya's defunct Kingfisher Airlines.
SBI has moved the loan amount to an Advance Under Collection Account (AUCA) in a bid to clean-up its balance sheets.
63 Accounts in the list have been fully written off, 31 have been partially written off and 6 have been shown as non-performing assets (NPAs), the paper said quoting a document it had accessed.
Apart from Mallya's Kingfisher Airlines, KS Oil (Rs 596 crore), Surya Pharmaceuticals (Rs 526 crore), GET Power (Rs 400 crore) and SAI Info System (Rs 376 crore) are the other top defaulters.
Mallya's Kingfisher airlines owes total amount of Rs 6,963 crores to 17 banks. The auction of his Kingisher villa in Goa did not see any buyers last month.