The Gujarat-based Ruia's Essar group (Shashi and Ravi Ruia) as well as Gautam Adani's Adani group are also in the eye of the NPA storm. So is the Delhi-based Jaypee Group of Manoj Gaur which is said to wield substantial clout with UP politicians. While political opponents have tried to make much out of an alleged association of the Gujarat groups with Prime Minister Narendra Modi, the fact is exactly the opposite. These groups, too, have been told by their creditors - mostly PSBs where the rule of oral orders from political bosses during the UPA regime created the biggest-ever banking crisis in the country's history - to pay up or else face actions. Shashi and Ravi Ruia's Essar group has a gross debt of Rs 1,01,461 crore. The group is looking to sell about 50 per cent stake of its family silver, Essar Oil's 20 million tonnes per annum Vadinar refinery, for Rs 25,000 crore. It also plans to bring in a financial partner for its 10 mtpa steel business that currently has a debt of Rs 40,000 crore; a 49 per cent stake in the steel facility will be valued at about Rs 25,000 crore. The debt-laden group is also looking to sell stake in its ports business. Essar Steel and Essar Oil each account for one-third of the group debt, and Essar Power one-fifth. The billionaire Gautam Adani's Adani group, with Rs 96,031 crore debt on its balance sheet, is under pressure to sell its stake in the Abbott Point coal mines, port and rail project. The Adani Group's debt stands at Rs. 72,000 crores. Last year, Standard Chartered bank had recalled loans amounting to $2.5 billion as part of its global policy of reducing exposure in emerging markets. Global lenders have backed out from funding the $10-billion coal mine development project. State Bank of India has also declined to offer a loan despite signing a MoU to fund the group with $1 billion. Manoj Gaur's Jaypee group owes a debt of over Rs 75,000 crore. The group has agreed to sell its 20 mtpa of cement assets to Kumar Birla-led Ultratech for Rs 15,900 crore. This will leave its listed entities with about 6 mtpa of cement capacity, three thermal power plants, one hydropower plant, an expressway project and land parcels. It is looking to sell most of these assets at the right price, but buyers are not easy to come by. Apart from selling the stake in its land parcels and the Yamuna Express Highway, the group is looking to sell its remaining cement plants for Rs 4,000 crore and its Bina thermal power plant for Rs 3,500 crore. In the last year, the group has defaulted on payment obligations worth $350 million. Analysts say its capacity to service its debt has not improved. By M K Shukla and Rakesh Ranjan Weblinks: Our previous stories Modi adm cracks whip (Part-03): India's Lehman moment approaches as Tata Steel bleeds http://www.indianmandarins.com/modi-adm-cracks-whip-part-03-indias-lehman-moment-approaches-as-tata-steel-bleeds/ Modi adm cracks whip (Part-02) : leveraged cos asked to pay back loans http://www.indianmandarins.com/modi-adm-cracks-whip-part-02-leveraged-cos-asked-to-pay-back-loans/  Modi Administration cracks whip (Part-01) : leveraged cos asked to pay back loans