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 company28-04-2018
28-04-2018
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.26-04-2018
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 should23-04-2018
Nirav Modi fraud: PNB moves Hong Kong court, plans legal action in other countries
After moving the insolvency authority in the US, Punjab National Bank (PNB) has raised heat by approaching Hong Kong Court against billionaire jeweller Nirav Modi, who is accused of a Rs 13,000-crore fraud.22-04-2018
Cash supply to ATMs improved but cash crunch still persists: Bank officials
Punjab National Bank said cash supply to its ATMs has reached normalcy20-04-2018
Govt approaches NCLAT to attach properties of people involved in PNB scam
It also allows tribunal power to appoint subsequent to an order removing the existing managing director or manager19-04-2018
Shareholding for the Period Ended March 31, 2018
Punjab National Bank has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2018. For more details, kindly Click here18-04-2018