State Bank of India may take five companies to NCLT

Burnpur Cement and four Patni Group entities may be brought to the National Company Law Tribunal (NCLT) by the State Bank of India (SBI) for insolvency proceedings, according to The Economic Times. The Patni Group has defaulted on INR30bn (US$462.17m) of unpaid loans and dues, while Burnpur has defaulted on INR2.5bn.

SBI has not commented on the allegations that it will take the borrowers to court. The bank currently accounts for the highest amount of gross non-performing assets in the country at INR2.02trn.