Bhushan Power & Steel fraud: After PNB, more lenders may report misappropriation of funds
On Saturday, Punjab National Bank alleged that the bankrupt steel company misappropriated bank funds and manipulated its books of accounts to raise funds from its consortium of lenders. The size of the fraud is pegged at Rs 3,805 crore against Rs 2,348 crore mentioned in the CBI FIR against the company and its top brass.
Last Updated: July 9, 2019 | 12:06 IST
PNB's disclosure of a new fraud after the Nirav Modi scam last year sent its share price plummetting around 11 per cent on Monday