PNB reports Rs 1,203cr fraud by Sintex Industries

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.

from Times of India https://ift.tt/2G5cUfn