INSUBCONTINENT EXCLUSIVE:
central bank, relating to allegations of diversion of funds by the indebted Bhushan Power - Steel.Earlier this month, Punjab National Bank
(PNB) said it had reported a borrowing fraud of Rs 3,805 crore in Bhushan Power's account to the Reserve Bank of India (RBI).Both these
banks are among a host of financial creditors who have claimed a collective Rs 47,303 crore from Bhushan Power, which the RBI referred to a
bankruptcy court in 2017.It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds
from the consortium of lenders, New-Delhi based PSB said in a statement on Wednesday.The case is currently at the country's company law
tribunal and the bank expects good recovery, it said.State-owned PSB also said it has made provisions amounting to Rs 189 crore relating to
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