Punjab National Bank’s (PNB) british subsidiary -- Punjab National Bank International (PNBIL) has lost its UK High Court appeal in a $45 million deceit claim against seven individuals and two companies, based in India and the US. The issue in contention was whether the High Court of England and Wales should accept jurisdiction to try the claim by PNBIL, involving eight loans it made between March 2011 and December 2014 for oil re-refining and wind energy generating projects in the US.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
