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.
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Jun 18, 2013, 03.47 PM | 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.

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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.

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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.

UCO Bank stock price

On May 04, 2016, UCO Bank closed at Rs 36.55, down Rs 1.9, or 4.94 percent. The 52-week high of the share was Rs 65.95 and the 52-week low was Rs 27.80.


The latest book value of the company is Rs 111.00 per share. At current value, the price-to-book value of the company was 0.33.

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

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