Lanco Infratech declared as ‘fraud’ account by Punjab & Sind Bank

1 month ago 7
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The slope  besides  stated that it had afloat   provided for Lanco Infratech.The slope besides stated that it had afloat provided for Lanco Infratech.

Public assemblage lender Punjab & Sind Bank has declared Lanco Infratech arsenic ‘fraud’ account, the slope said successful a regulatory filing connected Wednesday.

The slope has an vulnerability of Rs 215 crore towards Lanco Indratech. “It is informed that an NPA relationship Lanco Infratech Limited with outstanding dues of Rs 215.17 crore has been declared arsenic fraud and reported to RBI contiguous arsenic per regulatory requirement,” the lender said .

The slope besides stated that it had afloat provided for Lanco Infratech. If an relationship is declared fraud, banks request to acceptable speech 100% of the outstanding loans arsenic provisions, either successful 1 spell oregon dispersed implicit 4 quarters, according to RBI.

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