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Punjab & Sind Bank declares Golden Jubilee Hotels as fraud account

Golden Jubilee Hotels Pvt Ltd is a public-private partnership (PPP) with the Department of Tourism and Youth Advancement, Tourism & Culture, Government of Telangana

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"It is informed that an NPA account viz Golden Jubilee Hotels Pvt Ltd with book outstanding of Rs 86.40 crore and 100 per cent provisioning has been declared as fraud and reported to the RBI as per regulatory requirement," bank said in a filing to exchanges.

Press Trust of India

1 min read Last Updated : Apr 18 2020 | 11:29 PM IST

State-owned Punjab & Sind Bank on Saturday said it has declared the non-performing account of Golden Jubilee Hotels, involving an outstanding amount of over Rs 86 crore, as "fraud".

Golden Jubilee Hotels Pvt Ltd is a public-private partnership (PPP) with the Department of Tourism and Youth Advancement, Tourism & Culture, Government of Telangana, according to the

Topics : Punjab & Sind Bank Non-performing assets National Company Law Tribunal hotels public sector banks

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