Sucheta Dalal :Naming & Shaming Bank Defaulters
Sucheta Dalal

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Naming & Shaming Bank Defaulters  

May 14, 2013

Nitin Kasliwal of S Kumars gets targeted

Sucheta Dalal

The Kasliwal family is no stranger to controversy or to bad loans. But UCO Bank’s decision to put out an advertisement labelling Nitin Kasliwal as a defaulter is a welcome indicator that banks are willing to play hardball with leading industrialists. The advertisement, which cautioned other banks from dealing with Mr Kasliwal, said that his company S Kumars Nationwide Ltd was guarantor to an Rs110-crore loan to the luxury apparel company, Reid & Taylor, consequences which had turned defaulter. Has this new toughness been triggered by the finance ministry’s directive in March 2013 for banks to get cracking on recovery? Probably.

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-- Sucheta Dalal