Nagpur/Ranchi: In a major development, the Ranchi branch of Bank of India has officially declared Abhishek Jaiswal and Manoj Kumar Jaiswal, both former Directors of Nagpur-based Abhijeet Infrastructure Limited, as wilful defaulters in connection with a massive loan default of over Rs 100 crore.
The bank published a public notice carrying photographs and details of both individuals on Tuesday, June 25, after completing the formal process of declaring them wilful defaulters as per the Reserve Bank of India’s (RBI) Master Circular guidelines.
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17 June 2025
According to the notice, Abhijeet Infrastructure Limited had availed a term loan of Rs 100 crore from the Clubside Branch (formerly Ranchi Mid Corporate Branch) of Bank of India on June 22, 2010. However, the company defaulted on repayment obligations and committed acts classified as wilful default under RBI norms.
Following due process, the bank officially declared the two former Directors as wilful defaulters on March 10, 2025, and subsequently shared their details with all major Credit Information Companies in line with regulatory requirements.
Details of the wilful defaulters as released by the Bank:
• Name: Abhishek Jaiswal, Designation: Erstwhile Director, outstanding loan with interest (as on June 20, 2025): Rs 164,95,39,953.39
Address: 246, Usha Sadan, Pt. Ravishankar Shukla Marg, Civil Lines, Nagpur-440001
• Name: Manoj Kumar Jaiswal, Designation: Erstwhile Director/Guarantor, outstanding loan with interest (as on June 20, 2025): Rs 164,95,39,953.39.
Address: Shivlok, 801, B-Wing, J.P. Height, Near RBI Officer’s Colony, Gondwana Chowk, Byramji Town, Jaripatka, Nagpur-440014.
Bank officials stated that strict action is being pursued as per banking regulations to recover the outstanding dues. The declaration of wilful default not only tarnishes the individuals’ creditworthiness but also bars them from availing loans or credit facilities from any bank or financial institution in the country.
Further investigations and recovery proceedings are likely to follow in this high-profile default case.
