PNB reports borrowal fraud to RBI against erstwhile promoters of SREI Equipment Finance and SREI Infrastructure Finance
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FILE PHOTO: People walk past Punjab National Bank’s Brady House branch in Mumbai, India June 14, 2018. REUTERS/Francis Mascarenhas/File Photo
| Photo Credit:
FRANCIS MASCARENHAS
Punjab National Bank (PNB) has reported a borrowal fraud case to the Reserve Bank of India (RBI) involving former promoters of SREI Equipment Finance Ltd (SEFL) and SREI Infrastructure Finance Ltd (SIFL), as disclosed in the bank’s regulatory filing.
The bank disclosed fraud amounts of ₹1,240.94 crore for SEFL and ₹1,193.06 crore for SIFL.
PNB confirmed it has already made full provisions for these outstanding amounts. Both companies underwent successful resolution through the Corporate Insolvency Resolution Process (CIRP) administered by the National Company Law Tribunal.
National Asset Reconstruction Company Ltd (NARCL) secured the acquisition of SEFL and SIFL through this resolution process in 2023.
Published on December 26, 2025
