Indian Bank reports 3 NPA accounts worth over Rs 35 cr as fraud to RBI

on Thursday reported three accounts as fraud to the with total outstanding of over Rs 35 crore.

Three non-performing accounts, S Kumars Nationwide Ltd, Priya Ltd and Yuvaraj Power Projects, have been declared as fraud and reported to the as per regulatory requirement, said in an exchange filing.

The state-owned lender said all of the three accounts have caused fund diversion to the tune of Rs 35.29 crore.

S Kumars Nationwide Ltd has outstanding balance of Rs 14.51 crore, Priya Ltd Rs 9.73 crore and Yuvaraj Power Projects Rs 11.05 crore. While the former two accounts have provision up to 100 per cent of the loan outstanding, the third account has provision cover of Rs 9.60 crore at end of December 2020, said the lender.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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