PNB Housing Finance has identified and declared a fraud involving certain borrower accounts. The amount related to the fraud is reported as Rs. 237.43 Crore. The accounts in question were already written off in FY 2022-23, and the company has stated that there is no material impact on the overall financials and operations. The company is pursuing appropriate legal action.
Fraudulent Activity Discovered
PNB Housing Finance has announced the discovery of fraudulent activity involving several borrower accounts. The company has initiated appropriate measures following internal review and reporting protocols.
Financial Impact and Remedial Actions
The total amount pertaining to the declared fraud is Rs. 237.43 Crore. However, PNB Housing Finance clarified that these accounts had already been written off during FY 2022-23. The company asserts that this event will not have a material impact on its consolidated financial standing or ongoing business operations. To address the issue, the company is actively pursuing appropriate legal avenues.
The affected accounts include Sarv Realtors Private Limited, Supertech Limited and ASP Sarin Reality Private Limited.
Source: BSE
