Mumbai,
\nThe state-owned PNB on Thursday said it has followed lawful avenues to recover its dues following Rs 11,400 crore swindling of funds allegedly by jewellery designer Nirav Modi and associates.<\/p>\n
The country\u2019s second-largest public sector lender also reaffirmed that it has enough assets to meet any liability.<\/p>\n
\u201cWe have followed lawful avenues available to us as per law of the land to recover our dues,\u201d the bank said in a regulatory filing.<\/p>\n
Stock exchanges had sought clarification on Modi\u2019s comment that \u201cPNB has closed all options to recover dues by going public\u201d.<\/p>\n
The bank had disclosed about the scam on February 14 through a regulatory filing.<\/p>\n
On why it did not inform stock exchanges about the filing of FIR with the CBI at the occurrence of the event, PNB said: \u201cSince law enforcing agencies were assigned to investigate the matter, any news in public would have altered the fraudster, affecting recovery\u201d.<\/p>\n
The bank said on basis of preliminary investigation report, it had simultaneously informed its Board and BSE, NSE of initial fraud case of Rs 280.7 crore.<\/p>\n
\u201cUpon receiving further investigation report enhancing the fraud amount to Rs 11,394 crore, FMR (Fraud Monitoring Return) with the RBI, FIR with CBI were filed in the evening of February 13, 2018, and BSE and NSE were informed on February 14 around 9 am,\u201d the bank said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai, The state-owned PNB on Thursday said it has followed lawful avenues to recover its dues following Rs 11,400 crore swindling of funds allegedly by jewellery designer Nirav Modi and associates. The country\u2019s second-largest public sector lender also reaffirmed that it has enough assets to meet any liability. \u201cWe have followed lawful avenues available to […]<\/p>\n","protected":false},"author":1,"featured_media":22821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-22820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=22820"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22820\/revisions"}],"predecessor-version":[{"id":22822,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/22820\/revisions\/22822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/22821"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=22820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=22820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=22820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}