According to a report as many as around six including two senior bankers and other real estate industry officials havhttp://www.blogger.com/img/blank.gife failed to meet the deadline for the repayment of loans advanced by various banks to them. The major cause attributed to such act is the reduction in sales and the slump faced in 2008-09. The deadline which was 31st march has been over passed already and the loan which lies around Rs. 20,000 crore is still unpaid.
If a chairman of a public sector bank is to be believed the accused will not be able to repay the loans. The chairman didn’t want to reveal his identity but said that a few among the defaulters have approached for a fresh loan. “They have approached various banks for fresh loans, possibly to repay the old debt,” he said.
The companies which have sought a fresh loan are Lodha Developers Ltd., Unitech Ltd., DB Realty Ltd. and Emaar MGF Land Ltd according to the senior banker. Among them Lodha Developers didn’t respond to an e-mail sent last week. A Unitech spokesperson said that the company wont reveal any financial figures until the results are announced. The group director at DB Realty declined to reveal whether the firm has any payment over dues or if it has sought a fresh loan to repay an earlier one. The Emaar MGF said that it has refinanced some of its debts and has also repaid an amount of Rs. 1,400 crore in last year and a half.
If a chairman of a public sector bank is to be believed the accused will not be able to repay the loans. The chairman didn’t want to reveal his identity but said that a few among the defaulters have approached for a fresh loan. “They have approached various banks for fresh loans, possibly to repay the old debt,” he said.
The companies which have sought a fresh loan are Lodha Developers Ltd., Unitech Ltd., DB Realty Ltd. and Emaar MGF Land Ltd according to the senior banker. Among them Lodha Developers didn’t respond to an e-mail sent last week. A Unitech spokesperson said that the company wont reveal any financial figures until the results are announced. The group director at DB Realty declined to reveal whether the firm has any payment over dues or if it has sought a fresh loan to repay an earlier one. The Emaar MGF said that it has refinanced some of its debts and has also repaid an amount of Rs. 1,400 crore in last year and a half.
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