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Last week, finance minister Nirmala Sitharaman told the Rajya Sabha that scheduled commercial banks have written off Rs10 lakh crore of bad loans in five years and that only 13% of the write-off has been recovered. Separately,
Pipavav Shipyard, the largest drydock of India is undergoing CIRP for last more than two years, i.e. January 2020.Hazel Mercantile Limited, in consortium with Swan Energy Limited, is one of the Resolution Applicants and they had filed their .