Among the top 20, the default loans of state-owned enterprises and government liabilities totalled Tk 295 crore, sources at the nationalised commercial bank said.

"Although we have pressure from the Bangladesh Bank to recover these loans by this year, chances are very thin that we'll succeed because of legal and bureaucratic tangles," said a high official of Rupali Bank on condition of anonymity.

He said dealing with the private defaulters will not be easy because they have obtained stay orders from the High Court on the bank's move to recover the loans. "And the government must have a will to pay us back the default amounts lying with the public concerns."

Adamjee Jute Mills that was closed two years ago is the top defaulter of Rupali Bank. It owed the bank Tk 126 crore keeping its 276 acres of land as collateral. "The value of this land is Tk 131 crore," said a bank official.

"We believe we'll get our dues once the government sells the Adamjee lands," he hoped.

The bank management in its bid to strengthen loan recovery drive has opened special cells at all regional offices and the head office. General managers have been given special assignments to deal with particular defaulters regularly.

The steps were taken following a meeting between the central bank governor and Rupali Bank high-ups earlier this month.

The top public sector defaulters are Adamjee Jute Mills (Tk 126 crore), BJMC (Tk 47 crore), BTMC (Tk 42 crore), BADC (Tk 21 crore), Food Ministry (15 crore) and Sirajganj Spinning and Cotton Mills (Tk 11 crore).

Besides, the government, as a guarantor, is also liable to pay back the loans taken by Bangladesh Auto-rickshaw Chalak Samabay Samity (19 crore) and Bangladesh Auto-tempo, Scooter, Cab Chalak Samabay Samity (Tk 14 crore)

The top private sector defaulters are: Mannan Brothers (Tk 55 crore), Rahmania Vanaspati Products (Tk 43 crore), Crystal Oil Refinery Ltd (Tk 24 crore), W Rahman Jute Mills (Tk 23 crore), Metropolitan Steel Mills Ltd (Tk 18 crore), Paragon Leather and Footwear Ltd (Tk 16 crore), MB Tannery (Tk 15 crore), Aqua Food Ltd (Tk 14 crore), Shah Jute and Plastic Processing (Tk 13 crore), Gawsia Cotton and Spinning Mills (Tk 12 crore), Dynasty Textile Mills (Tk 10 crore), Metalex Corporation (Tk 11 crore).

Among these companies, Metalex Corporation used to be a public sector enterprise that was privatised in 2000. The bank in 2002 offered the buyer interest waiver against the default loan but the new owner did not respond to it.