{"id":23954,"date":"2022-02-15T19:44:54","date_gmt":"2022-02-15T14:14:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-psb-ilfs-fraud\/"},"modified":"2022-02-15T19:59:14","modified_gmt":"2022-02-15T14:29:14","slug":"biz-psb-ilfs-fraud","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-psb-ilfs-fraud\/","title":{"rendered":"Punjab &#038; Sind Bank declares IL&#038;FS Tamil Nadu Power as fraud account; outstanding dues at Rs 148 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3415894328\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 15 (PTI) Public sector Punjab &#038; Sind Bank (PSB) on Tuesday said it has declared bad asset IL&#038;FS Tamil Nadu Power Company, with dues of over Rs 148 crore, as a fraud account and reported it to the Reserve Bank.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-609188605\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> As per the bank&#8217;s policy on determination and disclosures on material events, PSB said it has declared this non-performing account (NPA) as a fraud account.<\/p>\n<p> &#8220;It is informed that an NPA account, viz IL&#038;FS Tamil Nadu Power Company Ltd with outstanding dues of Rs 148.86 crore has been declared as fraud and reported to RBI today as per regulatory requirement,&#8221; the lender said in a regulatory filing.<\/p>\n<p> The bank said it has already made provisions amounting to Rs 59.54 crore, as per the prescribed prudential norms.<\/p><div class=\"trade-content_5\" id=\"trade-566871783\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The company was set up as a special purpose vehicle (SPV) by the debt-laden Infrastructure Leasing &#038; Financial Services Ltd (IL&#038;FS) under its energy platform IEDCL for implementation of thermal power projects at Cuddalore in Tamil Nadu.\u00a0  \t Stock of PSB closed at Rs 15.95 apiece on BSE, up 1.92 per cent from the previous close. PTI KPM  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-3179436001\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 15 (PTI) Public sector Punjab &#038; Sind Bank (PSB) on Tuesday said it has declared bad asset IL&#038;FS Tamil Nadu Power Company, with dues of over Rs 148 crore, as a fraud account and reported it to the Reserve Bank. As per the bank&#8217;s policy on determination and disclosures on material events, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-23954","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Punjab &amp; Sind Bank declares IL&amp;FS Tamil Nadu Power as fraud account; outstanding dues at Rs 148 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-psb-ilfs-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab &amp; Sind Bank declares IL&amp;FS Tamil Nadu Power as fraud account; outstanding dues at Rs 148 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 15 (PTI) Public sector Punjab &#038; Sind Bank (PSB) on Tuesday said it has declared bad asset IL&#038;FS Tamil Nadu Power Company, with dues of over Rs 148 crore, as a fraud account and reported it to the Reserve Bank. 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