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Allahabad bank reports Rs 688.27 crore fraud

Allahabad Bank on Wednesday reported a fraud of Rs 688.27 crore by a Ludhiana-based textile company.

India TV News Desk India TV News Desk
New Delhi Published on: July 18, 2019 9:06 IST
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Image Source : PTI

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Allahabad Bank on Wednesday reported a fraud of Rs 688.27 crore by a Ludhiana-based textile company.

A few days back the bank had reported a fraud of over Rs 1,775 crore by Bhushan Power and Steel Ltd. The bank informed the Bourses that for outstanding

dues of Rs 688.27 crore NCLT proceedings are in progress.

It has also been declared as fraud and reported to RBI as per regulatory requirement, the bank said.

 
 

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