Bank has enough assets to meet any liability decided as per law-PNB
Punjab National Bank (PNB) in its latest communication to Bombay Stock Exchange (BSE) has provided the following clarifications with reference to various queries raised by BSE and NSE based on the media report.
| Sl. No. | Query | Response |
| 1. | PNB looking to monetize assets. | Bank has enough assets to meet any liability which is decided as per law. However, realization of any specific asset would be decided at the time of need with the approval of Board |
| 2. | “PNB fraud: Petition filed in SC demanding SIT probe” A petition has been filed in the Supreme Court on Monday demanding Special Investigation Team (SIT) probe in the ongoing Punjab National Bank | Bank is not aware of any such petition filed in Supreme Court. |
| 3. | Central Bureau of Investigation (CBI) sealed the Bank’s MCB Brady House branch in Mumbai earlier today as part of the ongoing investigation | Bank is under discussion with CBI to allow normal operation in the branch during business hours. However, the bank has Core Banking Solution through which any customer of bank can transact at any branch of his convenience. Bank has made enough arrangements to ensure no customer is put to any inconvenience. |
Download PNB Clarification Click Here >>
----------- Similar Posts: -----------In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…
Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…
SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…