With the default on payments, Dena Bank has declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017.
The total exposure of lenders to the electronic goods maker is pegged at Rs 45,000 crore. Venugopal Dhoot, chairman, Videocon group, did not respond to repeated calls made. The Mumbai-based bank took a hit of about Rs 120 crore in the form of provisions (about Rs 90 crore) and reversal of interest income (Rs 28-30 crore) in the fourth quarter, Dena Bank officials said.
Two officials with other public sector bank said it is just a matter of time (some quarters) that all lenders would treat it as bad loan.
