On the basis of Forensic Audit Investigation findings and CBI filing FIR, on suo moto basis, against the company and its Directors, alleging diversion of funds from banking system, a fraud of Rs238.30cr is being reported by Bank to RBI.
"We have to inform that a fully provided non-performing account, SEL Manufacturing Ltd. with outstanding dues of Rs688.27cr for which NCLT proceedings are in progress," the bank said in a regulatory filing.
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