PNB reports Rs 2,434 cr loan fraud against former Srei promoters to RBI |
New Delhi: State-owned Punjab National Bank on Friday reported a loan fraud of Rs 2,434 crore committed by former promoters of SREI Equipment Finance Ltd (SEFL) and SREI Infrastructure Finance Ltd (SIFL) to the banking sector regulator, the Reserve Bank. These two entities with financial debt amounting to Rs 32,700 crore went through resolution under the Insolvency and Bankruptcy Code and the new promoter National Asset Reconstruction Company Ltd........