A Jaffe, the name that can solve India's Rs 14,500 cr PNB puzzle
A Jaffe, the name that can solve India's Rs 14,500 cr PNB puzzleThe Bankruptcy Court for the Southern District of New York has appointed Alvarez & Marsal to conduct an inquiry into the PNB fraud. PNB targets over 10% business growth in 2018-19
PNB said it had strengthened the process of underwriting credit to minimise the possibility of fraud. Punjab National Bank eyes 11% growth in total business to Rs 12 trillion
In a bid to curb frauds, the bank said it had tightened bank's credit underwriting norms and put in place an off-site monitoring to identify risks PNB will bounce back in 6 months, says CEO
Punjab National Bank (PNB), which has been facing a lot of turbulence since January this year, will bounce back in six months, a top official has sa Insolvency: Liberty House offers over Rs 260 bn for Bhushan Power
The NCLT has asked Bhushan Power lenders, led by PNB, to consider the bid submitted by Liberty House for the debt-ridden company Stung by frauds, PNB hunts for detectives to find whereabouts of loan defaulters
The Punjab National Bank (PNB), it seems, is leaving no stone unturned to recover the dues which have been classified as NPAs. The second largest public sector lender is soliciting services of detective agencies to get hold of absconding loan defaulters. NCLT asks Bhushan Steel creditors to consider Liberty House bid
The National Company Law Tribunal (NCLT) today asked the lenders of Bhushan Power & Steel, led by PNB, to consider the bid submitted by UK-based Liberty House for the debt-ridden company. Allowing the plea of Liberty House, the tribunal has directed the committee of creditors (CoC) to complete its resolution proceedings by June 23. A two-member NCLT bench, headed by President Justice M M Kumar, said that Liberty House bid cannot be disqualified only on the ground of being submitted after the deadline of the resolution professional (RP). "We hope that CoC takes an appropriate commercial decision as per the Insolvency and Bankruptcy Code (IBC)," said NCLT. The tribunal's order came over a petition filed by Liberty House, challenging the rejection of its bid by the RP for Bhushan Power and Steel on account of late submission. Welcoming the order, a Liberty House Spokesperson said, "The judgement came out today. The NCLT has given the judgement in our favour saying that our bid should