Public sector Punjab and Sindh banks on Friday reported bank fraud of Rs 112.42 crore in their two stranded debt accounts. The accounts are from Maha Associated Hotels and Adyar Zinc.
The bank has stated in its regulatory information that it has informed the Reserve Bank of this fraud and is in the process of filing a complaint with the Central Bureau of Investigation in this regard.
The case against Maha Associated Hotels is currently pending at NCLT. The bank told the stock market that as per the applicable provisions of SEBI Regulations and the policy of the bank, "it is reported that the outstanding
NPA account of Rs. 71.18 crore with a provision of Rs 44.40 crore was declared as 'Maha Associated Hotels Private Limited' fraud has gone and has been reported to RBI as per regulatory requirement."
In other information, the bank said that the NPA account of Adyar Zinc has been declared a fraudulent account with outstanding dues of Rs 41.24 crore and its information has been given to the RBI.
In April of this year, the bank also declared fraudulent non-performing accounts of Golden Jubilee Hotels with an outstanding balance of Rs 86 crore.
On July 9, public sector Punjab National Bank (PNB) said on Thursday that it had taken out Dewan Housing Finance Limited. (DHFL) has informed the RBI about the fraud of Rs 3,688.58 crore in the NPA (Non-Performing Asset) account.
The DHFL came into the limelight when a report said it allegedly rigged Rs 31,000 crore out of a total of Rs 97,000 crore of bank loans through several masked companies.
In November last year, the Reserve Bank sent a problem-linked home loan company, DHFL, to take out a loan resolution.
It is the first financial services company to go to the NCLT (National Company Law Tribunal) for debt resolution. Various agencies, including the SFIO (Serious Fraud Investigation Office), began investigations after reports of alleged violations of the company's rules last year.
