MONEY
ABG Shipyard, Gitanjali Gems, HDIL top defaulters’ list with Rs 40,635-cr dues to banks
- IBJ Bureau
- Mar 17, 2026
Top-10 wilful defaulters, including ABG Shipyard, Gitanjali Gems and Housing Development and Infrastructure (HDIL) owe Rs 40,635 crore to banks as of March 31, 2025, Parliament has been informed.
ABG Shipyard tops the list with Rs 6,695 crore due to banks followed by Gitanjali Gems (Rs 6,236 crore), Beta Napthol (Rs 5,268 crore) and Rakeshkumar Kuldipsingh Wadhawan (Rs 4,291 crore), Finance Minister Nirmala Sitharaman has said in a written reply to the Lok Sabha.
Besides, erstwhile directors of Bhushan Power & Steel owe Rs 3,810 crore, Raza Textiles Rs 3,260 crore, Gilt Pack Rs 3,080 crore, Rank Industries Rs 2,655 crore and HDIL Rs 2,540 crore to banks.
The finance minister has added that the RBI has advised lenders to submit a 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.
According to inputs received from the RBI, a bank may undertake compromise settlements in respect of accounts categorised as wilful defaulters without prejudice to the criminal proceeding underway against such borrowers, Ms Sitharaman has added.
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, she has said.
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