Chennai: Punjab National Bank (PNB) has reported a fraud of Rs 2,060 crore in the NPA account of IL&FS Tamilnadu Power Company Limited (ITPCL).
‘A fraud of Rs 2,060.14 crore is being reported by the bank to RBI in the accounts of the company. Bank has already made provisions amounting to Rs 824.06 crore, as per prescribed prudential norms,’ the bank told the exchanges.
The report from PNB comes a month after Punjab & Sind Bank reported a borrowing fraud worth Rs 148.867 crore in the NPA account of ITNPCL.
Exactly a month ago, in February, Punjab & Sind Bank had declared IL&FS Tamil Nadu a fraud account with outstanding dues of Rs 148 crore.
‘It is informed that an NPA account, viz IL&FS Tamil Nadu Power Company Ltd with outstanding dues of Rs 148.86 crore has been declared as fraud and reported to RBI today as per regulatory requirement,’ the lender said in a regulatory filing.