In one of the most comprehensive investigation, NewsX has accessed the list of Non-Performing Assets (NPAs) as of the financial year 2016. In a 200 pages long list, NewsX has accessed names, addresses and amounts of 1406 companies which have been identified as Non-Performing Assets defaulters. According to sources and NewsX investigation, the total loans of these non-performing assets amounts to 1000s of crores of rupees. These include loans that have been taken by individuals, companies and have not been paid back. As part of our investigation, NewsX has just not accessed the list of these NPAs, but has also tried to track down these companies by visiting their addresses accessed by us. However, according to case studies, NewsX has found that most of these NPA had either mentioned wrong address, or their company has already shut down. Going by NewsX investigation, here are such two case studies where the defaulters have faced some sort of action by law enforcement agencies. 

Case 3
Pg no. 7
Name: Koutons retail
NPA amount: 88 crore
Address: 368, old Khandsa Road, Udyog Vihar industrial area phase vi, sector 37, Gurugram
What we found: Seized by High Court in 2013

Below is the excerpt from the conversation when NewsX reached their address

NewsX: Is this the Koutons office? This is the office space right?
Man: Yes
NewsX: Does it still exist?
Man: Not anymore
NewsX: has someone else bought the space? I just wanted to know. I’m from NewsX and I want to inquire about Kkoutons
Man: I’ve just come here, been shut since 2013
NewsX: It’s been shut since then? Is there an address, where I can go and find the owners? Has somebody else bought this space?
Man: high court ordered shutdown
NewsxX: high court? So who has employed you?
Man: I’m here for the high court
NewsX: is there any other office?
Man: I don’t know. High Court had seized this area, it’s been shut since 2013. There was a case in court, that’s why this is under the high court now. People had come for auctioning as well
NewsX: alright, thanks a lot

Also ReadNPA files on NewsX: India’s biggest investigation into NPAs

Case 4:
Pg no. 7
Name: Indian Technomac
NPA amount: 75 crores
Address: Indian Technomac Co, Rajendra Place, Delhi
What we found: Shut for the past 2.5-3 years

Below is the excerpt from the conversation when NewsX reached their address

NewsX: If I go upstairs

Man: You won’t find anything
NewsX: How many floors were their offices on?
Man: The floors on which they had offices have all been sold off.
There’s another office now. Previous office has shut down
NewsX: There’s another company now?
Man: 1208, 1209 were the offices
NewsX: When did it shut down?
Man: it’s been about 2.5 – 3 years
NewsX: How many people were working under them?
Man: over 100 approximately
NewsX: And you said they didn’t get their salaries?
Man: Nobody got salaries
NewsX: 10, 11, 12th floor were the offices, and now there’s nothing? Do you know anything about jail?
Man: nothing happened here, they are in Dubai
NewsX: The owner has been jailed?
Man: Yes, the owner only has been jailed

We intend to carry this on over the next 100 days, everyday, until you the people of India get the most comprehensive picture possible on what is and has become a pressing national issue. The mission is clear. The Modi government has committed itself to strengthening India’s financial backbone by cleaning out non performing assets that are weighing down the books of banks. India’s total NPAs now amount to more than Rs 8 lakh crores. That’s Rs 6,400 for every man, woman and child in India. NewsX has accessed what we believe from our sources is the most comprehensive list of NPAs as of the financial year 2016. The list is more than 200 pages long and contains names, addresses and amounts of 1,406 companies and the total loans amount in the thousands of crores. You are getting to see this list for the first time tonight. Not only that, we’ve committed our special investigation team of to physically visit the addresses listed on behalf of these firms. The investigation is as riveting, as it is serious.

Also ReadPM Narendra Modi tweets cute photo from 2015 Canada visit; says looking forward to meet Justin Trudeau, his children

Also Read: PNB scam: From Rolls Royce Ghost to Porsche Panamera, ED seizes 9 luxury cars belonging to Nirav Modi

For all the latest Bank NPA Non Performing Assets News, download NewsX App