Banks will have to reclassify loans given to HDIL as fraud

Real estate developer HDIL is currently in default to various banks and has been admitted for proceedings under the Insolvency and Bankruptcy Code. The company has been trying to come out of the process and had paid Rs 98 crore to Bank of India, which was incidentally raised from the Punjab and Maharashtra Cooperative (PMC) Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Vip5IV