NewsX has accessed the most comprehensive list of Non-Performing Assets (NPAs) as of the financial year 2016. The list is more than a 200 pages long, containing names, addresses and amounts of 1406 companies and the total loans amounting to 1000s of crores of rupees, loans that have been taken by individuals, companies and have not been paid back. NewsX not only has accessed this list, but it has gone over this list and carried a special investigation by physically visiting these addresses mentioned in the list on behalf of these firms.
As part of our investigation, NewsX objective was to track down these defaulters, and breaking the details threadbare. A web of fake addresses, empty buildings, the investigation as it is riveting and also serious at the same time. NewsX has not just accessed the list but physically tried to track down the addresses of NPAs, finding out who these people are, why they haven’t paid the money and where are they now.
NewsX during its investigation tracked down a number of NPAs, reached out to their addresses and tried to find out where they are, how much money is involved and where the defaulters are at the present. Out of various places where NewsX investigated to track down the defaulter, what we have found that a number of addresses were empty buildings, closed shops with local people saying that those companies did not ever exist and it was the case with most of the companies. NewsX also tried to contact the banks which have been ‘duped’ by defaulters in NPAs list but the banks did not respond.
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