ANOTHER BIG FRAUD AMOUNT 1203.26 CR DECLARED BY PNB AND SHARE PRICE DOWN TO 28.55 ONLY
Public sector Punjab National Bank (PNB) on Wednesday declared its Rs 1,203.26 crore exposure to Sintex Industries Ltd as fraud.
Pursuant to the applicable provisions of Sebi's Listing Obligations and Disclosure Requirements (LODR) and the bank's policy, "we inform reporting of borrowal fraud of Rs 1,203.26 crore in NPA account of Sintex Industries Ltd (SIL)," PNB said in a regulatory filing.
The fraud reporting pertains to the large corporate branch at Ahmedabad zonal office, it added.
"The fraud of Rs 1,203.26 crore is being reported by bank to RBI in the accounts of the Company (SIL). Bank has already made provisions amounting to Rs 215.21 crore, as per prescribed prudential norms," it added.
PNB stock closed at Rs 28.55 apiece on BSE, down 1.72 per cent.
The Central Bureau of Investigation (CBI) has filed a charge sheet against Alok Kumar Misra, the former chairman and managing director (CMD)...
-
The 12 th Bipartite wage settlement is due on 01.11.2022. The salary and other wage components of public sector banks and some private se...
-
Expected DA Calculation Updated on 29.02.24 on the basis of CPI for the month of Jan'24 with the assumptions of CPI for the next two mon...
-
Fixed personal pay is computerisation allowance. It was compensation given to the employees at that time. Not applicable for those who are j...
No comments:
Post a Comment