This was revealed by an investigation by the Public Accounts Committee exercise of the financial performance of Government Institutions, the Committee on Public Enterprise COPE committee.

It is also learnt that the BoC had also lent loans to these defaulters, despite them having defaulted on their previous loans.

The CoPE committee report has revealed that by December 31, 2014, the nonperforming loan (NPL) balance of the ten defaulters was at Rs. 322,142,856.

In 2014 alone, the loan repayment defaulted by them stood at Rs. 54,690,892, while the interest accumulated was Rs. 67,615,763.

It is also reported that as these loans have been accorded only on personal guarantees and as such there is no legal provision to recover these loan dues.