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From Subrata Roy to Harshad Udani, here are the most famous wilful defaulters of India
While Subrata Roy of Sahara Group and Vijay Mallya of Kingfisher Airlines have been much in the news over the last few months for being tagged as wilful defaulters. But, as per the information by the Credit Information Bureau (India) Ltd. (CIBIL), there are a total of 7,129 loan accounts that have been classified as wilful defaulters by different banks across the country, with total loans amounting to Rs 70,540.34 crore.

If anyone is not familiar with the term `wilful defaulter', then it means the one who has the means to pay back their dues to banks but not the intent. Once a company is declared a wilful defaulter, such organizations and their promoters cannot access or seek funds from any other bank or financial institution.

Here are the most famous wilful defaulters of India

Subrata Roy, Sahara India Group

First in the list of wilful defaulters is Sahara India Group's chairman Subrata Roy, who has dues of Rs 36,000 crore, which is just a fraction of his personal wealth. He is presently serving two years of prison term in Delhi's Tihar Jail. But, recently the Supreme Court posed a question asking 'why would a man like Sahara group chief Subrata Roy suffer two years of incarceration in Tihar, if his dues did not add up to even a fraction of his personal wealth? Why would such a wealthy person not just settle his dues?' The apex court on Wednesday scanned details of Roy's wealth while hearing his plea for an extension of his interim bail to six months till July 11.

Vijay Mallya, Kingfisher Airlines

Kingfisher owes a total of Rs 9,091 crore to a consortium of 17 banks, led by State Bank of India, which alone owes Rs 1,600 crore from Mr Mallya. SBI had declared Mr Mallya a wilful defaulter in November last year. The banks are battling in various courts to get back their lent money from the liquor-baron. UB Group chairman Vijay Mallya had last month offered to pay Rs 6,000 crore in settlement of his total dues, however the bank had rejected his offer. Mallya had left for London on 2nd March and on 9th of March the Supreme Court issued a notice to him on the plea by lending banks seeking to stop him from leaving the country.

Harshad Udani, Winsome Diamonds and Jewellery Ltd

Winsome Diamonds and Jewellery Ltd owes Rs 6,800 crore to banks, which makes it one of the largest accounts to be classified as a wilful defaulter. The diamond trader firm came into trouble when 13 of its UAE-based distributors failed to pay Rs 4,760 crore to the company.

Usha Ispat (Metal & Mining)

The company has an outstanding loan amount of Rs 16,911 crore, of which Rs 5,093 crore constitutes wilful default. The key creditor is LIC and the current status of the company is unknown. Trading in the company's shares has been suspended since 2007.

Vijay Choudhary, Zoom Developers

The Mumbai based firm Zoom Developers, whose main business is scrapping and then relocating plants, owes Rs 3,002 crore collectively to 26 state-owned banks. Zoom has allegedly diverted loan funds to 350-odd subsidiaries, related parties based in India and abroad.

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