CORPORATE DUES

The number of companies with outstanding corporate tax dues of `500 crore or more is 132 as on March 31, 2017, involving total dues of `3,38,098 crore.

— ARUN JAITLEY

1,606.26 cr

and an equal amount of penalty is due in one case of service tax.

Elaborating, the Union finance minister said the outstanding corporate dues not realisable include demand covered by stay (`1,20,604 crore), no asset or inadequate assets for recovery (`84,469 crore) and company under liquidation (`30,532 crore), among others.

Mr Jaitley also said banks have an exposure of 97,681 ` crore in the telecom sector, which is grappling with financial stress

`2,45,480 cr

of the outstanding corporate dues were not realisable

Quoting the RBI figure, Mr Jaitley said total outstanding (funded) advances by public sector banks to the ‘communications’ sector stood at `63,415 crore, while total exposure to the sector worked out to be `97,681 crore. ‘Communications’ sector include, telecom fixed network; telecom towers; telecommunications and telecom services.

For public sector banks, the gross Non Performing Asset (NPA) ratio and stressed advances ratio for the sector stood at 3.68 per cent and 11.29 per cent respectively, at the end of 2016-17 fiscal.