Feb 02, 2010, 10.24 PM | Source: Moneycontrol.com
A single account, belonging to Paramount Airlines, has been responsible for an unprecedented rise in Bank of India’s rise in non-performing assets (NPAs), CNBC-TV18 reports quoting sources.
The account belongs to Paramount Airlines and the bank has over Rs 200 crore of exposure to the carrier, which has been unable to pay interest for over two quarters now, it is learnt.
Bank of India, which has already classified its exposure to Paramount Airlines as an NPA, is contemplating legal action against the company and has got approval from its board.
When contacted, there was no response from either Bank of India or Paramount Airlines on the issue.
"Upon change in law, Bank of India has sold its 18
Ashwani Gujral of ashwanigujral.com recommends sel
Bank of India has informed BSE that the Extra Ordi
The regulator also made it clear that the role of