Singh told The Financial Express that the CII national task force onNPAs in the Indian financial system had five members whose group companieshad outstandings to Government-owned banks.

The task force hasrecommended the closure of Uco, United Bank of India and Indian Bank,together with the privatisation of State Bank of India and three otherbanks.

"It is strange that among the CII group's members, there are five topindustrialists who had helped to increase the NPAs of banks," Singh said.The defaults were to several nationalised banks and not just Uco. He refusedto name the defaulters among the 15-member group, which is headed by bankerKV Kamath of ICICI Ltd. The other members of the group are Rahul Bajaj ofBajaj Auto, Arun Bharat Ram of SRF, JJ Irani of Tata Iron & Steel Co, RSeshasayee of Ashok Leyland, MK Sharma of Hindustan Lever Ltd, Pradip KKhaitan of Khaitan & Co, Nimesh Kampani of JM Morgan Stanley, Pradip Shah ofInd-Asia Fund Advisors, CII director general Tarun Das and chief economistOmkar Goswami, bankers S Mukherji and Lalitha Gupte of ICICI and K Kannan ofBank of Baroda and tax consultant Rajendra P Chitale. Singh said: "Theycarry no credibility and nobody-not even the finance ministry-will give anyimportance to this report." He pointed out that ICICI managing director'sKamath has not given his personal opinion.