Nine Fugitive Economic Offenders Owe Banks ₹58,000 Crore; SBI Recovers 52%
December 5, 2025
Nine Fugitive Economic Offenders (FEOs) owe Indian banks over ₹58,000 crore in principal and interest. Despite arrest warrants, they remain outside India to avoid prosecution. The principal amount is ₹26,645 crore; interest is ₹31,437 crore. Banks have recovered just over ₹19,000 crore, about 33% of the total dues.
The Ministry of Finance told Parliament that as of October 31, 15 people are declared FEOs. Nine of them are linked to large financial frauds, and their dues are public.
State Bank of India (SBI) is owed more than ₹22,000 crore, making it the biggest lender affected. Punjab National Bank (PNB) and Bank of India also face heavy default amounts.
SBI has the highest recovery rate at nearly 52%, mainly due to recovery efforts in Vijay Mallya’s case, including liquidation. Other banks have recovery rates below 40%.
Businessman Vijay Mallya tops the list with almost ₹27,000 crore owed. Over 56% of his debt has been recovered. Next are the Sandesara family (Sterling Group) and Nirav Modi, with Sandesara’s recovery at 17% and Modi’s just 7%.
SBI had the largest loan exposure to Mallya. PNB faced the biggest loss from Nirav Modi. The Sandesara family’s loans were spread across multiple banks.
This data comes from Parliament questions and answers. It includes two offenders who settled loans under One Time Settlement (OTS). The Sandesara family amounts cover Nitin J. Sandesara, Chetan J. Sandesara, and Dipti C. Sandesara as per official records.
Read More at Thehindu →
Tags:
Fugitive Economic Offenders
Indian banks
Loan Recovery
Vijay mallya
Nirav modi
Sandesara Family
Comments