Indian Bank classifies loan exposure to Reliance Home Finance as fraud
IANS 25 September 2020
Despite a stay by Delhi High Court on Bank of Baroda as the lead bank, Indian Bank has classified its loan exposure to Reliance Home Finance as fraud.
 
Indian Bank has classified its exposure to Reliance Home Finance Ltd (RHFL) as a fraud account. As per information reported on Central Repository of Information on Large Credits (CRILC), Indian Bank made such classification on 29th August, 2020. Indian Bank's exposure to RHFL is only Rs 120 crore out of the total debt of over Rs 1,00,000 crore.
 
It is to be noted that earlier Delhi High Court had stayed such classification by the lead bank Bank of Baroda on August 14. Similar action of Punjab National Bank was also stayed by Delhi High Court on August 11.
 
Indian Bank's action on August 29 is despite the Delhi High Court staying such action by the lead bank Bank of Baroda on August 14.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
m.prabhu.shankar
2 years ago
And now financial experts in the Govt has come out with a new idea of handing over banks to Corporates for effective management. Terrific. Its clear. Corporates control everything in our country. Some explicitly and rest indirectly. Mainly policy formulation is completely controlled by Big Corporates.
rajoluramam
2 years ago
After reading all these reports from various sources, not only me, I think all the investors in Reliance home fiancé totally lost hope of getting a single pie from fraduster Anil Ambani. Still, I wonder how the NDA government is favering Anil Ambani in giving him Defence deals. No leader from NDA government, including FM utter a single word denouncing the acts of Fraduster Anil A mbani. We, the small investors, are sure God will definitely give him major punishment.
s5rwav
2 years ago
Madam Nirmala Sitharaman the Union Finance Minister #SilencePlease? I am Babubhai Vaghela from Ahmedabad. Thanks.
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