Pursuant to the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bandhan Bank has clarified the information / news published in media on the audit of CGFMU claim. Subsequent to receiving the first tranche of CGFMU recovery, the Bank had applied for second tranche of CGFMU claim amounting approximately INR 1290 Crore. The National Credit Guarantee Trustee Company (‘NCGTC’) had conducted a preliminary sample audit on the application, and the Bank has extended full co-operation in the process. Based on the preliminary audit findings, the Bank has given detailed explanations along with the process followed in support of the claim made by the Bank to NCGTC. NCGTC has further decided to conduct a detailed audit for the CGFMU portfolio of FY 2020- 21, and the same has been intimated to the Bank. The company has further clarified that this is not an audit of the Bank initiated by the regulator. It is only the audit of the CGFMU claim made by the Bank pertaining to the portfolio. The Bank shall extend its full co-operation in the proposed audit and is confident that the Bank will get recovery of the claim initiated. The Bank has clarified this information out of abundant cautious approach and in line with the governance practices being followed by the Bank.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| HDFC Bank | 772.55 |
| ICICI Bank | 1251.45 |
| Axis Bank | 1259.75 |
| Kotak Mahindra Bank | 371.30 |
| Indusind Bank | 910.80 |
| View more.. | |
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