Indian Bank declares Lanco Infra, Basundhara Green Power as fraud accounts with Rs 589 crore exposure
NEW DELHI: State-owned Indian Bank on Friday, July 23, 2021 declared Lanco Infratech and Basundhara Green Power as fraud accounts with a total outstanding balance of over Rs 589 crore.
“We have to inform you that fully provided non-performing accounts have been declared as fraud and reported to RBI as per regulatory requirements,” it said in an exchange filing.
