People's Democracy(Weekly Organ of the Communist Party of India (Marxist) |
Vol.
XXV No. 32 August 12, 2001 |
COMPANIES ON THE RUN
The Securities and Exchange Board of India (SEBI) in its Report of August 2, has identified 209 companies which have defaulted on repaying loans to various financial institutions. Their state-wise distribution is given below. These companies did not even submit their reports before SEBI or the concerned Stock Exchange as is the rule. Though SEBI and Department of Company Affairs (DOCA) of the central government are not sure how much money the investors have lost, the amount is at least several hundred crores. Samir Biswas, regional director, DOCA said the amount is being calculated with SEBI.
Hall of Shame
State | Defaulter |
Gujarat | 65 |
Delhi | 33 |
Andhra Pradesh | 22 |
Tamil Nadu | 21 |
Maharashtra | 19 |
West Bengal | 18 |
Karnataka | 11 |
Madhya Pradesh | 10 |
Uttar Pradesh | 10 |
Total | 209 |