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    HomeNewsBusinessAllahabad Bank reports Rs 688.27 crore fraud

    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.

    PTI
    July 18, 2019 / 08:17 IST
    File image: Allahabad Bank
       
       
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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.

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

      PTI
      first published: Jul 18, 2019 08:15 am

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