MUMBAI, August 12: A total of Rs 7,731.71 crore is due from 1,880 borrowers against whom commercial banks and financial institutions have filed suits for recovery of funds as on March 31, 1996.

A list of such borrowers with aggregate outstandings of over Rs one crore released by Reserve Bank of India's (RBI) Department of Banking Operations and Development shows that securities scam fame Harshad S Mehta is at the top with dues of Rs 812.08 crore claimed by the State Bank of India (SBI), main branch at Mumbai.

SBI accounts for Rs 1,770.79 crore of advances locked in litigation, while 19 nationalised banks account for Rs 5,012.97 crore. The seven SBI associate banks had such dues to the tune of Rs 255.77 crore, followed by private banks with Rs 188.04 crore and foreign banks with Rs 143.87.

A sum of Rs 360.27 crore of ICICI (Rs 161.31 crore), IDBI (Rs 91.49 crore) and IFCI (Rs 107.47 crore) are locked in recovery suits.

The Sachdevas of M S Shoes owe IDBI a sum of Rs 63.91 crore.

Nihon Electronics, Orson Electronics and Orson Sales where M R Chhabaria is one of the leading directors owe differing amounts totalling Rs 64.3 crore to Allahabad Bank, Bank of Maharashtra, Canara Bank and Bank of India.

The list shows Nihon Electronics in default of Rs 7.45 crore to Allahabad Bank and Rs 16.62 crore to Bank of Maharashtra, Orson Electronics in default of Rs 13.30 crore to Bank of India and Rs 25.66 crore to Canara Bank and Orson Sales Rs 1.27 crore to Bank of India. Mackinnon Mackenzies & Co Ltd, having a B A Dubash and one other as directors, owes Rs 39.90 crore to Bank of India. Rajadhiraj Industries, which has as its director, `takeover tycoon' P Rajrathinam owes Rs 11.24 crore.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.