(a) whether loan sanctioned to different companies by Indian Renewable Energy Development Agency Ltd. for promotion and development of new and renewable sources of energy, amounting crores of rupees has become Non-performing Assets (NPA) and doubtful recovery;
(b) if so, the details thereof including the amount of loan declared as NPA;
(c) the amount of loan recovered during each of the last two years; and
(d) the steps taken to recover the loan amount from borrower companies?
MINISTER OF STATE OF THE MINISTRY OF NON-CONVENTIONAL ENERGY SOURCES (INDEPENDENT CHARGE) (SHRI VILAS MUTTEMWAR)
(a)&(b): Loans sanctioned to some companies by the Indian Renewable Energy Development Agency (IREDA) have become Non Performing Assets (NPA) primarily on account of projects becoming un-remunerative due to reasons natural or otherwise limiting their repayment capability. The net NPA amount was Rs.89.05 crore, as on 31/3/2005.
(c): Total dues recovered during 2003-04 and 2004-05 are Rs.734.00 crore and Rs.686.38 crore respectively.
(d): IREDA has taken a series of steps against defaulters for recovery of loans such as sending recall notices, filing cases before Debt Recovery Tribunals (DRT) and the Board for Industrial and Financial Reconstruction (BIFR), taking action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SRFAESI), 2002 etc.