Moneycontrol
Jun 18, 2013 03:47 PM IST | Source: CNBC-TV18

IOB marks Reid & Taylor, S Kumars a/c as NPA

Uco Bank has slapped a loan recall notice on Reid & Taylor after it failed to repay over Rs 100 crore loan. IOB has classified both Reid & Taylor and S Kumars accounts as NPAs.

IOB marks Reid & Taylor, S Kumars a/c as NPA

After State-run UCO Bank named Reid & Taylor account as non-performing asset, another public sector bank - IOB - has classified loans to Reid & Taylor and S Kumars Nationwide as non-performing assets, reports CNBC-TV18.


Early last month, UCO Bank, in an advertisement in national dailies, posted photograph of Nitin Kasliwal, chairman and managing director of S Kumars Nationwide (SKNL), who is the guarantor of the loan taken by its arm Reid & Taylor, and called him a defaulter.

At 12:57 hours IST, S Kumars Nationwide was quoting at Rs 4.50, down 1.32 percent.

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