The borrower fraud related to SEFL stood at Rs 1,240.94 crore and the PSU bank has made 100% provision for the outstanding amount, the lender said in its filing to the exchanges.
The amount for SIFL stood at Rs 1,193.06 crore and PNB has made full provision for its exposure to the company, the filing said.
Both companies were successfully resolved under the Corporate Insolvency Resolution Process (CIRP) by the National Company Appellate Tribunal (NCLT).
PNB disclosed the development after market hours; its shares closed 0.6% lower at Rs 120.25 on the NSE.
The cases had been referred for insolvency in October 2021 after the banking watchdog stepped in and superseded the boards of the companies amid concerns over governance and mounting repayment failures involving dues of nearly Rs 28,000 crore.
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