New Delhi, July 10: Punjab & Sind Bank on Friday reported fraud of Rs 112.42 crore in two NPA accounts of Maha Associated Hotels and Edyar Zinc. The bank has reported the fraud to the Reserve Bank of India and is in the process of filing complaints with the Central Bureau of Investigation, according to regulatory filings.

The Delhi-headquartered lender in a filing said that "an NPA account Maha Associated Hotels Pvt Ltd with outstanding dues of Rs 71.18 crore having provisioning of Rs 44.40 crore has been declared as fraud and reported to RBI as per regulatory requirement".

At present, the case of Maha Associated Hotels is pending at NCLT, it added. In a separate filing, the bank said that the NPA account of Edyar Zinc with outstanding dues of Rs 41.24 crore has been declared as fraud and reported to RBI as per regulatory requirement.

"Further, the account has been fully provided for as per existing RBI norms," it added. Earlier in April this year, the lender had declared the non-performing account of Golden Jubilee Hotels, involving an outstanding amount of over Rs 86 crore, as fraud.

Another state-run lender Punjab National Bank in a filing clarified that the provisioning towards fraud in DHFL account that it reported a day earlier was of Rs 1,695.73 crore.

"This has reference to our letter dated 9 July 2020, reporting a borrowal fraud of Rs 3,688.58 crore in the NPA account of Dewan Housing Finance Ltd. (DHFL) at Large Corporate Branch at Mumbai, Zonal Office, Mumbai.

"In this regard, we wish to submit that the provision figure be read as Rs 1,695.73 crore instead of Rs 1,246.58 crore," PNB said in an exchange filing.

PNB shares closed at Rs 35.05 apiece on BSE, down 5.53 per cent from the previous close. Punjab & Sind Bank scrip ended at Rs 13.95, down 0.71 per cent.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)

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New Delhi, July 10: Punjab & Sind Bank on Friday reported fraud of Rs 112.42 crore in two NPA accounts of Maha Associated Hotels and Edyar Zinc. The bank has reported the fraud to the Reserve Bank of India and is in the process of filing complaints with the Central Bureau of Investigation, according to regulatory filings.

The Delhi-headquartered lender in a filing said that "an NPA account Maha Associated Hotels Pvt Ltd with outstanding dues of Rs 71.18 crore having provisioning of Rs 44.40 crore has been declared as fraud and reported to RBI as per regulatory requirement".

At present, the case of Maha Associated Hotels is pending at NCLT, it added. In a separate filing, the bank said that the NPA account of Edyar Zinc with outstanding dues of Rs 41.24 crore has been declared as fraud and reported to RBI as per regulatory requirement.

"Further, the account has been fully provided for as per existing RBI norms," it added. Earlier in April this year, the lender had declared the non-performing account of Golden Jubilee Hotels, involving an outstanding amount of over Rs 86 crore, as fraud.

Another state-run lender Punjab National Bank in a filing clarified that the provisioning towards fraud in DHFL account that it reported a day earlier was of Rs 1,695.73 crore.

"This has reference to our letter dated 9 July 2020, reporting a borrowal fraud of Rs 3,688.58 crore in the NPA account of Dewan Housing Finance Ltd. (DHFL) at Large Corporate Branch at Mumbai, Zonal Office, Mumbai.

"In this regard, we wish to submit that the provision figure be read as Rs 1,695.73 crore instead of Rs 1,246.58 crore," PNB said in an exchange filing.

PNB shares closed at Rs 35.05 apiece on BSE, down 5.53 per cent from the previous close. Punjab & Sind Bank scrip ended at Rs 13.95, down 0.71 per cent.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)