Indian Bank reports Pratibha Group fraud for dues of ₹574.66 crore – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/money-and-banking/indian-bank-reports-pratibha-group-fraud-for-dues-of-57466-crore/article33412834.ece

Chennai-headquartered public sector Indian Bank has announced that it fully provided Non-Performing Accounts of two companies of Pratibha Group namely, Pratibha Industries and FEMC-Pratibha joint venture, with total outstanding dues of ₹574.66 crore has been declared as fraud and reported to RBI as per regulatory requirement.

Last week, the bank said it fully provided for IL&FS Financial Services Ltd with outstanding dues of ₹2408.00 crore has been declared as fraud and reported to RBI as per regulatory requirement.

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