State Bank of India will lead a bankers' meeting on Thursday to decide the fate of three large private steel units which have together defaulted on payments of loans of over Rs one lakh crore. These three - Bhushan Steel with a debt of Rs 47,000 crores, Essar Steel Rs 45,000 crores, and Electrosteel Steels Rs 11,000 crores - are part of the 12 companies identified by the RBI for insolvency proceedings. On Wednesday, joint lenders' forum had decided to move an application to the National Company Law Tribunal (NCLT) to initiate corporate insolvency on ABG Shipyard, Alok Industries, and Jyoti Structures. SBI received a mandate from the lenders to file for insolvency for Alok Industries that has outstanding loans of Rs 22,000 crore and Jyoti Structures that has borrowed Rs 5,100 crore loans. ICICI Bank, which is the lead bank for ABG Shipyard, received a mandate from the consortium of 22 lenders to prepare a resolution plan on Rs 6,900 crore loans. From the beginning of this week, bankers have been holding a series of meetings (among themselves) working out resolution plans after the central bank ordered lenders to initiate insolvency proceedings on 12 accounts.