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Depreciation account: In NPA drive, banks sitting on a scrap head

· economictimes.indiatimes.com · Source No Comments on Depreciation account: In NPA drive, banks sitting on a scrap head

Last year, banks, in the course of recovering thousands of crores of rupees due, got just Rs 22 lakh from the sale of an ‘asset’ — not a piece of land in a remote corner of the country or a used Audi or Mercedes car, but for a defaulter’s private aircraft that costs crores of rupees. Years of wait for a court ruling had rusted the machine and it had to be sold to a scrap dealer instead of someone who could have used it.

Depreciation account: In NPA drive, banks sitting on a scrap head

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