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PNB reports Rs 3,688 cr borrowal fraud by DHFL

  •   Fri, Jul 10 2020 09:16:58 AM

Mumbai, Jul 10 (IANS): State-run Punjab National Bank (PNB) has reported a borrowal fraud of Rs 3,688.58 crore in the NPA account of the now bankrupt Dewan Housing Finance Ltd (DHFL).

In a regulatory filing, the bank said that it has already made provisions amounting to Rs 1,246.58 crore.

"A fraud of Rs 3,688.58 crore is being reported by the bank to RBI in the accounts of the company (DHFL). Bank has already made provisions amounting to Rs 1,246.58 crore, as per prescribed prudential norms," it said.

Several other banks have already declared DHFL as a fraud account.

Last November, the Reserve Bank of India (RBI) superseded the Board of Directors of the company and appointed an administrator and accordingly, the board powers were vested in the firm's administrator.

Further, the Mumbai-bench of the National Company Law Tribunal (NCLT) at Mumbai commenced the CIRP against the company in December, following an application by the RBI.

The company reportedly has debt of around Rs 97,000 crore and has allegedly siphoned off Rs 31,000 crore from the total bank loans.

Its promoters Kapil Wadhawan and Dheeraj Wadhawan were arrested by the Central Bureau of Investigation in April.
  

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Comment on this article

  • j.anata, Mangaluru / Bengaluru

    Fri, Jul 10 2020

    Now that the Bank fraud has come to light, please immediately arrest the Board members and senior management officials of bank, whether in service or retired and put them in jails and torture, truth will come out.

    DisAgree [1] Agree [3] Reply Report Abuse

  • Narayana S., Bengaluru

    Fri, Jul 10 2020

    Bhakthon, you all thought Modi means Sudh Jal not like ganga ki aasudh jal. Now you realized your feku guru is also like ganga ki aasudh jal.

    DisAgree [5] Agree [8] Reply Report Abuse

  • francis lobo, Mangalore

    Fri, Jul 10 2020

    This is called the progress of a bank. We should add more banks(already UBI & OBC done) to PNB to make it Atmanirbhar! and also to increase the loan book.

    Great achievement. We blame this on Amrinder Singh as he is Punjab CM

    DisAgree [3] Agree [5] Reply Report Abuse

  • Francis Lewis, Sastan

    Fri, Jul 10 2020

    Now what our FM doing ?? Only looting

    DisAgree [3] Agree [3] Reply Report Abuse

  • anthony, Mangalore

    Fri, Jul 10 2020

    After Nirav Modi, yet another body blow to Punjab National Bank and consequently to our Banking sector. After all with loans being indiscriminately waved and NPA's write offs of most Banks by the Govt, the Banks have all been taken for a Jolly Good ride by Businessmen most of whom are Gujaratis.

    DisAgree [3] Agree [4] Reply Report Abuse

  • Sahil, Mangaluru

    Fri, Jul 10 2020

    So called chowkidar sleeping?...

    DisAgree [4] Agree [7] Reply Report Abuse

  • Sadiq, Mangalore

    Fri, Jul 10 2020

    Andhbhakts will say they have taken loan from Nehru time. Nirmala will wave the loan.

    DisAgree [6] Agree [10] Reply Report Abuse

  • Shan, Udupi

    Fri, Jul 10 2020

    The banks failures... our system is wrong.
    They lend money without any collateral, or proper investigations.
    They are not professional, but simply government officials.
    I was visiting some of the nationalized banks and found most of the staff are on leave. Ni control or if any action taken the staff than unions will come to their rescue.

    DisAgree [1] Agree [6] Reply Report Abuse

  • Lakshmi Narayan, Petri

    Fri, Jul 10 2020

    After 2014 No scams ONLY FRAUDS of thousands and thousands of crores. This is the GREATEST GIFT of BJP to the nation.

    DisAgree [3] Agree [18] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jul 10 2020

    This is a well planned Fraud.
    Bank Manager & other accused should he jailed for 20 Years ...

    DisAgree Agree [21] Reply Report Abuse


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Title: PNB reports Rs 3,688 cr borrowal fraud by DHFL



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