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MPSEB defaults on bonds

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Shashikant Trivedi Bhopal
Last Updated : Feb 06 2013 | 7:01 AM IST
Despite having reconstituted itself into five companies as part of a reconstruction job, the Madhya Pradesh State Electricity Board has defaulted on redemption of bonds issued in 1999. The amount in question is Rs 174.34 crore (as on March 31, 2005). Various PSU banks invested Rs 479.2120 crore.
 
The Uttarbanga Kshetriya Gramin Bank, Cooch Bihar, has asked the director, industrial finance, MPSEB, to pay the interest amount of Rs 1.18 crore.
 
The state's bankers have urged the government to clear Rs 173.73 crore. The electricity board has a security debt of Rs 49.43 crore and the interest has touched the figure of Rs 125 crore approximately.
 
Interestingly, State-Level Bankers' Committee Chairman V N Saxena has expressed his ignorance about the fact, but the matter has been raised in SLBC meetings.
 
According to data available with Business Standard, Andhra Bank has to recover a due of Rs 3 lakh from MPEB as interest, Bank of Baroda Rs 731.44 lakh as interest and Rs 284.69 lakh as matured amount of security, Bank of Rajasthan Rs 366 lakh as interest and Rs 170 lakh as matured amount of security, Canara Bank Rs 135 lakh as matured amount of security, Central Bank Rs 1468 lakh as interest and Rs 1340 lakh as matured amount of security, Dena Bank Rs 7.37 lakh as interest, Indian bank Rs 295.87 lakh as interest, Rs 457.50 lakh as matured amount of security, Indian Overseas Bank Rs 375 lakh as interest and Rs 460 lakh as matured amount of security, Oriental Bank of Commerce Rs 1325 lakh interest, Punjab & Sind Bank Rs 580.90 lakh interest and Rs 359 lakh matured amount of security, Punjab National Bank Rs 101.81 lakh as interest, State Bank of India Rs 5991 lakh interest, State Bank of Indore Rs 310 lakh as interest and Rs 852 lakh as matured amount of security, Syndicate Bank Rs 688 lakh as interest and Rs 295 lakh as matured amount of security, The Federal Bank Ltd., Rs 243 lakh as interest and Rs 500 lakh as matured amount of security.
 
The bankers have also demanded an amount of Rs 15.17 crore, which MPSEB has defaulted under bill discounting scheme of IDBI and SIDBI.

 
 

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First Published: Jul 05 2005 | 12:00 AM IST

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