Initiation Of Stake Sale Process - PNBHFL
Initiation of stake sale process - PNBHFL11-07-2018
Liberty House moves NCLAT, seeks info on bids from Bhushan Steel lenders
UK-based Liberty House today approached the National Company Law Appellate Tribunal (NCLAT) against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm. In its plea, Liberty House has alleged that lenders are not sharing any information or documents related to their meeting, which is being convened today. A two-member bench headed by Chairman Justice S J Mukhopadhaya has asked the lenders to address the grievances of Liberty House. The appellate tribunal has also directed to list Liberty House's plea on July 12, when the main matter related to Bhushan Power & Steel Ltd (BPSL) would come up for hearing. Earlier, lenders of BPSL had rejected the resolution plan submitted by Liberty House citing delay, following which the UK-based group had moved the National Company Law Tribunal (NCLT). The NCLT had on April 23 directed BPSL's lenders, led by PNB, to consider the bid submitted by Liberty .09-07-2018
Mint Primer: What is Project Sashakt and how it will work
Project Sashakt was proposed by a panel led by PNB chairman Sunil Mehta to address the bad loans problem in India's banking sector09-07-2018
PNB's big wilful defaulters' dues fall to Rs 15,354 crore in June
Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.08-07-2018
PNB cheated again; hawala operator launders Rs 2,252 crore, ED charge sheet reveals
It's not only the diamantaires Nirav Modi and Mehul Choksi who conspired and cheated the Punjab National Bank (PNB) of Rs 13,600 crore loan amount. Mumbai's leading hawala operator Mohammad Farooq was also not far behind, a charge sheet filed by the Enforcement Directorate has revealed.06-07-2018
Punjab National Bank Embarks On Credit Restructuring Exercise
A senior PNB official clarified that: "Contrary to false reports, PNB has no plans to close operations in branches like the Brady House branch in Mumbai."04-07-2018
After PNB fraud, Mehul Choksi planned an escape by selling Gitanjali properties: ED chargesheet
When he got a hint that the Punjab National Bank has lodged a complaint against Gitanjali Group and the central investigative agencies are on the verge of nailing him down, Mehul Choksi began the process of selling all his properties and move outside India.03-07-2018
Clarification sought from Punjab National Bank
The Exchange has sought clarification from Punjab National Bank with respect to news article appearing timesofindia.indiatimes.com- July 03, 2018 titled "CBI books PNB officials, Infrastructure company for four crore loan fraud".The reply is awaited.03-07-2018
Ex-PNB executive T Latha appointed new MD & CEO of Dhanlaxmi Bank
Her appointment will be for a period of three years w.e.f July 2, 201802-07-2018