Since 1992, when the securities scam broke out, Mehta owes State Bank Rs 812 crore. And the chances of SBI recovering this amount are practically zero. In fact, SBI's exposure is Rs 1,141.48 crore among the Top 10.

Save for Mehta, the rest of the list reads like a corporate rollcall, with even public sector companies finding a mention in it. Among the Top 10 list of defaulters, eight are doubtful accounts, while in the case of two, legal steps have been taken to ensure recoveries. In this year's list there are three new entrants. They are Maxwell Exim Food, Continental Float Glass and Madhumilan Syntex. These companies have replaced Punjab ChemiPlant of Chandigarh, SM Dyechem of Mumbai and JK Synthetics of Kanpur.

In the pecking order, on the second rung is the Orissa-based Indian Charge Chrome which owes Rs 444.99 crore to the Industrial Development Bank of India. The company's fortunes changed because of cumulative factors like changes in duty structure, mismanagement and legal battle with Tisco over the Sukinda mines. The account turned bad in 1994 and the bank has classified the asset doubtful. Field Marshal Sam Manekshaw was on the board of this company.

Ranking third is the public sector Hindusthan Photo Films whose outstandings with SBI total Rs 233.37 crore. On the fourth leg is East West Travel & Tradelinks. This company, which promoted East West Airlines, hit air pockets when its promoter Thakiyuddin Wahid was gunned down in Mumbai. The sudden vicissitude resulted in the airline being grounded and the group taking a beating overall. In the bargain, Indian Bank has lost Rs 168.23 crore.

Fifth ranker Maxwel Exim Food has defaulted tothe tune of Rs 147.66 crore to Indian Bank. The account went bad in March 1996. The bank has classified the account as a doubtful one. Continental Float has defaulted to the tune of Rs 127.19 crore to Industrial Finance Corporation of India. The Delhi-based term lending institution has also classified the account as a doubtful one.

Madhumilan Syntex has defaulted to the tune of Rs 96 crore to the State Bank of India in March 1998. This account too has been classified as doubtful debt.

Among the other big defaulters, Dynamatic Forgings India has defaulted to the tune of Rs 134.88 crore to Punjab & Sind Bank which has filed a suit against the company.

The Rs 105.59-crore default by Modi Spinning & Weaving Mills has been in Punjab National Bank's books since 1996 and continues to be a doubtful account. Uttam Singh Dughal Co has defaulted to the tune of Rs 104.16 crore to Indian Overseas Bank. The account has been classified as a doubtful account.