Team News Riveting
New Delhi, June 16
The Punjab and Sind Bank on Wednesday reported a borrowal fraud of Rs 215.17 crore to the Reserve Bank of India in an NPA account of Lanco Infratech Limited.
“In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and having regard to the Bank’s policy on determination and disclosures of material events, it is informed that an NPA Account, viz. Mis Lanco Infratech Limited with outstanding dues of Rs.215 .17 crore has been declared as fraud and reported to RBI today as per regulatory requirement,” the bank said in a regulatory filing.
“The account has been fully provided for as per the existing RBI norms,” it added.
