IDBI bank only has 16.72 crore outstanding loans to Sanghavi Exports: Stock Exchange Filing : Rashtra News
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IDBI Bank has informed stock exchanges that it has an outstanding loan of Rs. 16.72 crore to diamond firm Sanghavi Exports International Pvt. Ltd. and not Rs. 6710 crore as claimed by some media reports.
It said the reports were factually inaccurate.
The bank also stated that the account has been declared a non-performing asset and has been fully provided for. The lender has taken action to recover its dues as per its filing to the stock exchanges.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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