THE MINISTER OF STATE IN THE MINISTRY OF
FINANCE AND COMPANY AFFAIRS (SHRI ANANDRAO VITHOBA ADSUL):
(a) Details of NPAs of Industrial Finance Corporation of India Ltd. are as under:
(Rs. in crores)
Total Loan Assets As on 31st March
(Gross) 2000 2001 2002
Total loan Assets 21661.97 20894.63 20223.78
(Gross)
Provisions and write- 1821.65 2139.69 2675.97
offs
Total loan Assets 19840.32 18754.94 17547.81
(net)
Net NPAs 4102.56 3937.06 3897.64
Net NPAs as % of net 20.68 20.99 22.21
loan assets
Note: The data of NPA as on 31.3.2003 is under compiiation, since audit is underway. The same
would be available only after finalisation of accounts.
(b) to (d) (i) In order to reduce the existing NPAs as also prevent further slippage of
performing assets into NPA, aggressive restructuring is being resorted to by IFCI Ltd. During
2001-2002, restructuring programmes have been formulated in 103 cases involving an amount of
Rs. 4139 crore. During the year 2002-2003, restructuring programmes have been formulated in
72 cases involving an amount of Rs. 5074 crore.
(ii) In case of projects, where the prospects of recovery of dues are remote in the normal
course, aggressive steps are taken for reaching Negotiated/One Time Settlement of dues.
During 2001-2002, One Time Settlement was entered into 76 cases for a settled amount of
Rs. 491 crore.
(iii) The IFCI Ltd. has initiated legal action/issued notices to 45 companies and have conveyed
consent to other creditors in respect of another 36 concerns upto 31.3.2003, involving an
aggregate amount of Rs. 5501.34 crore. While many companies have some forward with proposals
to settle/restructure dues, etc., six companies have, so far, deposited an aggregate sum of
Rs. 10.95 crore in token of their willingness for settlement of their dues.
(iv) As a result of vigorous follow-up of cases before DRTs/Courts (781 cases as on 30.9.2002
involving an aggregate amount of Rs. 10,302.32 crore), IFCI Ltd. has received recovery
certificates in 131 cases for an amount of Rs. 1038.68 crore.
(v) Efforts are also being made to intensify the recovery of dues through the Corporate Debt
Restructunng Scheme introduced by RBI.
(vi) Restructuring efforts and One Time Settlement are being continued during the current year
also.
