Allahabad Bank reports borrowal fraud of its exposure in SEL Manufacturing

Allahabad Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532480 | NSE: ALBK

18 Jul 2019 Evaluate

Allahabad Bank has reported borrowal fraud of bank’s exposure in SEL Manufacturing (SELM) involving a total amount of Rs 688.27 crore. The bank has fully provided for this Non Performing Account, viz. SEL Manufacturing (SELM) with outstanding dues of Rs 688.27 crore for which NCLT proceedings are in progress, has also been declared as fraud and reported to RBI as per regulatory requirement.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Peers

Company Name	CMP
State Bank Of India	988.65
PNB	117.70
Bank Of Baroda	234.80
Canara Bank	124.65
Union Bank Of India	178.00
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
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