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By this, you’ll get a fair idea on how much debt (loans) some of India’s biggest corporate houses have taken. And few things will be cleared:

– Big businesses built on others money.
– When a common man defaults on his Credit Card or Home Loan payment, his CIBIL rating is affected. And when Businessman defaults thousand of crores rupees, they get extension to repay.

Soon, you will see ‘for sale’ tags on many cement units, malls, coalmines, Formula One teams, hotels, private jets etc.

These days, some of India’s biggest corporate houses are running on high debt (loans). And because of it, we’re going to see India’s biggest sale by big corporate that will even surpass government’s planned divestment target very soon.

The RBI (Reserve Bank of India) has planned to clean up the balance sheets of Indian banks, which are currently staggering with over Rs. Five Lakh Crore of bad loans, by the end of this fiscal. So, the banks have started pressurizing big business houses to repay loans. This means, it will lead to selling off of high price assets to many Business Groups.

The Hindu reviewed leading corporate houses riding on billion-dollar loans, and the results were shocking. The top 10 business house alone have to pay Rs 5,00,000 Crore to the banks. Sooner or later, they will be forced to sell assets worth over Rs 2,00,000 crore.

Lets have a close look on how much big corporate have to repay loans to Indian banks.

Companies Debt

Reliance Group (Anil Ambani)

Loan Amount: Rs 1,21,000 Crore
Annual Interest liability: Rs 8,299 Cr

 

Ruia’s Essar group (Shashi & Ravi Ruia)

Adani group (Gautam Adani)

Jaypee group (Manoj Gaur)

GMR group (GM Rao)

Loan Amount: Rs. 1,01,461 Crore

Loan Amount: Rs. 96,031 Crore

Loan Amount: Rs. 75,000 Crore

Loan Amount: Rs. 47,738 Crore

Lanco group (L Madhusudhan Rao)

Videocon group (Venugopal Dhoot)

GVK group (G.V. Krishna Reddy)

Reliance Industries (Mukesh Ambani)

Tata Group

Naveen Jindal-led Jindal Steel & Power ltd.

Loan Amount: Rs. 47,102 Crore

Loan Amount: Rs. 39,600 Crore

Loan Amount: Rs. 34,000 Crore

Loan Amount: Rs. 1,87,079 Crore

Loan Amount: Rs. 71,288 Crore ($10.7 billion)

Loan Amount: Rs. 46,000 Crore

In its Asia Insight Report tilted “India – Macro meets Micro,” Morgan Stanley said that the distress in corporate India’s balance sheet is unchanged for the past four years.Investment advisor SP Tulsian said that when you have gangrene in your body, you need to chop off that part to survive; “Similarly, Indian firms need to sell off assets to deleverage their balance sheets or they will die sooner or later.”

Source: The Hindu

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