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Last Updated : Jul 18, 2019 08:17 AM IST | Source: PTI

Allahabad Bank reports Rs 688.27 crore fraud

Allahabad Bank informed the bourses that for outstanding dues of Rs 688.27 crore NCLT proceedings are in progress.

 
 
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Allahabad Bank on July 17 reported a fraud of Rs 688.27 crore by a Ludhiana-based textile company.

A few days back the bank had reported a fraud of over Rs 1,775 crore by Bhushan Power and Steel Ltd.

The bank informed the bourses that for outstanding dues of Rs 688.27 crore NCLT proceedings are in progress.

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It has also been declared as fraud and reported to RBI as per regulatory requirement, the bank said.

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First Published on Jul 18, 2019 08:15 am
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