10 Corporate Firms Under Huge Debt In India

Bangalore: It may seem appalling, but there are around 50 top corporate firms in India that are under debt and couldn’t repay the loan to the banks. A survey done by All India Bank Employees Association (AIBEA) revealed that these firms have around Rs.40, 600crores of loan amount to be paid back to the banks in total. This list is revealed by the association states that except a few banks like State Bank Of India, foreign banks and IDBI bank,  none other private sector banks have repaid their loan. In order to keep public money safe, the association has announced to clear all the loans.

Let’s have a look on the loan defaulters in India as listed by rediff.com.

1. Moser Bear India Ltd & Group Companies

Moser Bear is considered as one of the largest manufacturers for CDs and DVDs, which comes under the category of Optical storage media. They are also into manufacturing Blu ray discs and HD-DVD that are some of the next generation storage formats.  The company has attained prestigious five star rating in its sector, however it is unfortunate that such a big company has a loan amount  of around Rs.581crore that need to be repaid to the bank.

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