Consortium of banks realizes Rs 7,975.27 cr by sale of assets
Out of which, assets worth Rs 15,113.91 crore have been restituted to the Public Sector Banks. In addition, assets worth Rs 335.06 crore have been confiscated by the government.
Following a late-night regulatory filing by Punjab National Bank (PNB) that upped the fraudulent amount involved in the Nirav Modi-engineered scam to Rs 12,600 crore, the bank’s shares nosedived in the bourses on Tuesday.
PNB’s shares were trading at Rs 98.15 per share, down 12.29 per cent, at 3 p.m. in the BSE. The scrip had fallen even lower during the intra-day trade to Rs 96.10 per share.
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In an 11.22 p.m. late night filing with the stock exchanges on Monday, the bank said: “In continuation to our filing with stock exchanges on February 14, 2018, we have to inform that quantum of reported unauthorised transactions can increase by $204.25 million.”
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