Public sector banks have issued 32,043 notices under the Securitisation Act till May 2003 to recover an outstanding amount of Rs 11,447 crore. The recoveries by the state-run banks till May were Rs 436 crore from 8,676 cases.
Nine financial institutions served notices to 182 companies for outstanding dues of Rs 946 crore till February 2003. The recoveries by FIs till end February were Rs 25.2 crore.
Union Bank of India tops the list of 27 public sector banks recovering Rs 117.51 crore. The bank had issued 1,388 notices aggregating Rs 486.34 crore.
Industrial Development Bank of India (IDBI) had issued notices to 41 borrowers till March 31 to recover Rs 1,459 crore. ICICI Bank has sent around 50 notices to recover over Rs 2,500 crore.
The list of corporates who had been issued notices includes Core Healthcare, Lloyds Metal Ltd, Usha Group, Shalimar Synthetics and Spectrum Power.
