Pursuant to the applicable provrsions of SEBI (LODR) Regulations and the Bank's Policy to Determine Materiality of Events to be reported to the Stock Exchanges we inform as under:
Reporting of Borrowal Fraud of Rs.1203.26 crore in NPA account of M/s Sintex Industries Ltd. (SIL) at Large Corporate Branch at Ahmedabad, Zonal Office, Ahmedabad.
A fraud of Rs. 1203.26 Crore is being reported by Bank to RBI in the accounts of the Company (SIL). Bank has already made provisions amounting to Rs. 215.21Crore, as per prescribed prudential norms.
This is in compliance with the regulation 30 of SEBI (LODR) Regulations, 2015.