In India’s biggest campaign to detect NPA files and track the loan defaulters, NewsX opened up another case on day 3. Under the case no. 7 of the NewsX investigation on Saturday, we tracked Texcomash International Private Limited. The company is registered on the Defence Colony address in New Delhi and has taken the loan from several banks including the Yes bank and State bank of Mysore and is under the debt of Rs 63 crores.
When NewsX tried to track Texcomash International, there was no company running at the registered address. As per the investigation, The company named Texcomash Exports Private Limited was established in the year 1999 by Narendra Kumar and his son Pratik. In 2007, the company defaulted a loan of Rs 13 crores taken from Yes bank by using fake property papers and ran away. When they were caught and charged by Yes bank, they simply changed the name of the company but continued to use the same address and took another loan of Rs. 63 crores from State bank of Mysore in 2008.
This time they changed the name of the company to Texcomash International Private Limited. The loan defaulter duo is now missing from the registered address. Our team also spoke to the localites and tried to know more about the company who told us that there is no company running there for at least 3-4 years. The big question that arises now is that how come a bank approved such a big amount without going through the background of the company?