Chennai: Allahabad Bank has 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.