Punjab National Bank expects to recover Rs 3,000 cr from NCLT cases in FY25: MD & CEO

Some of the cases under the insolvency route for the bank include that of listed free zone developer and operator Arshiya Ltd, Study Industries, Vadraj Cement, etc.

Public-sector lender Punjab National Bank is expecting a recovery of Rs 3000 crore from its cases in the National Company Law Tribunal (NCLT), the bank’s managing director and chief executive officer (MD and CEO) Atul Goel said.

“We recovered Rs 200 crore from NCLT in Q1. We are expecting to recover Rs 1210 crore in Q2, Rs 990 crore in Q3 and Rs 590 crore in Q4. Overall, we are expecting to recover Rs 3000 crore,” Goel said at a post-results press conference.

In addition to this, Goel said that the bank has 224 cases in process under the insolvency route for recovery. Some of the cases under the insolvency route for the bank include that of listed free zone developer and operator Arshiya Ltd, Study Industries, Vadraj Cement, etc.