The bank has sued 9 defaulters so far to realise Tk 234 crore from them, although no case has been filed against the remaining 11 defaulters who owe Tk 312 crore to the bank.

Sources said the bank has been able to recover only Tk 10 lakh during the last six months, manifesting a sheer failure in realising bad loans, though it expressed its determination to realise such bad debts. There are also allegations that the bank has adopted a dilly-dallying tactic to sue the defaulters even.

A source, however, said the bank now puts its efforts in realising the classified loans through negotiations with the defaulters.

When contacted, some of the defaulters pointed out that faulty government policy, complexities in holding share of companies and stock disposal have pushed them to being defaulters.

Up to June 30, 2006, the JB's total classified loan reached Tk 1675 crore, which is 14 per cent of the bank's total outstanding loan.

Of the top 20 defaulters, who owe Tk 546 crore to the bank, two Beximco Group companies--Beximco Engineering Ltd owes Tk52.36 crore and Shinepukur Holdings Ltd owes Tk 21.20 crore.

The Beximco Group is yet to be sued for its failure to repay the JB loans as it has come forward to negotiate with the bank and rescheduled its loans by making down payment of Tk1crore to the bank, the sources said.

Lexco Ltd, a leather company, which owes Tk49.66 crore, is the second largest defaulter of the top 20 defaulters of Janata Bank.

Lexco said it failed to repay the loan to the bank because of its huge losses. The JB has been negotiating with the company to recover the loan, but not filed any case, the bank sources added.

Nirman International Construction Co, one of the long-time defaulters of Janata Bank, owes Tk47.30 crore. The bank sued the company but failed to get back money from the loanee as the company filed writ petition against the case.

The bank sources said the bank is trying to vacate the write petition to recover the loans from the company.

As per the JB's list of the top 20 defaulters, Fuad Spinning Mills Ltd, who owes Tk 43 crore, has proposed to make down payment to the bank to reschedule its loan.

Shahjalal Leather Complex Ltd, who owes Tk36.22 crore, has applied to the bank to cut interest.

BD Autorickshaw Chalak Samity owes Tk26 crore of the total default loans. Bank sources said the four nationalised banks provided loans to the company during the Awami League regime, but the company failed to repay the loans so far.

Sources said the committee of the Samity, which recommended for providing loans to the company, has already been dissolved. Besides, most of the Samity offices have suspended their activities.

Others listed defaulters are Alhaj Oil Mills Ltd (Tk 35.40 crore), Green Arrow Tannery Ltd (Tk 26.13 croer), BD Maize Products Ltd (Tk 25.12 crore), Sohrab Vegetable Oil Refinery Ltd (Tk 23.66 crore), Rahatin Industry Ltd (Tk 23.31 crore), Samanta Leather Complex Ltd (Tk23.07 crore), Hasna Traders (Tk 20.74 crore), Penguin Corporation (Tk17.79 crore), Mita Textile Ltd (Tk 16.42 crore), Viva Trade International (Tk14.79 crore), Dynamic Textile Ind (Tk 14.15 crore) and Bikrampur Tannery (Tk 13.49 crore).

Another company, Yousuf Leather Corporation, which regularised its loan, has been able to cut its name from the top 20 defaulters list of Janata Bank.