Investing.com investing.com 21 Dec, 2020 17:15 am

The Story Behind the Rs 7,926 Crore Fraud at Transstroy

The Story Behind the Rs 7,926 Crore Fraud at Transstroy
Read The Story Behind the Rs 7,926 Crore Fraud at Transstroy By Investing.com

Public Channels T Crude Oil WTI R Reliance Industries S SBI T Tata Motors I ICICI Bank I IndusInd Bank H HDFC Bank I Infosys Search Results Search Results No matching items foundNo matching items found By Aditya Raghunath Investing.The money was lent to the company by a consortium of banks led by Canara Bank Ltd (NS:).Canara Bank says its exposure to Transstroy is capped at Rs 678 crore.

It transferred funds worth Rs 2,341 crore to another company and the funds didn’t reflect on the books of the concerned company.It has declared the bank as a wilful defaulter in 2018 and has accounted for the losses.

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