Banks Still in a mood to help huge amount defaulters.

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  • S4A scheme (Scheme for Sustainable Structuring of Stressed Assets) is a new scheme designed for structuring high value NPAs or it may be said to help special case borrowers.

 

  • SBI led consortium of banks is planning to implement S4A scheme for ALOK Industries (A famous name in very large amount NPA list of Government Banks).This news is on many media sites.

 

  • In case of Alok industries, bank funds to the tune of Rs. 18000.00 crore are stuck up as NPA or stressed asset.

 

  • ALOK INDUSTRIES =     2 times of MALLYA

 

  • Funds lent by Consortium of Banks with SBI as lead bank.

 

  • Few days back there was news all over media sites that Alok Industries Management has diverted funds from business for which funds were given by banks to their real estate projects in India and Overseas.

 

  • Those borrowers who divert banks money from business and then do not pay properly fall in the category of willful defaulters.

 

  • Already in past many times helpful decisions have been taken by Bankers.

 

  • Again why this type of special breather package has been designed by Bankers and that too is used for willful defaulters.

 

  • Our bankers should accept that if the hard, fast and smart steps are not taken for recovery proceedings then situation will only get worse as value of the land and building being given by borrowers as Primary or Secondary security may fall further and will be %wise less.

 

 

 

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