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SumanSpeaks Capital Markets & Geopolitical Intelligence  ·  Estd 2006   Insolvency Law · Corporate Accountability When the Law Works Exactly as Designed — And Still Feels Wrong ₹22,006 crore in personal guarantees. Settled for ₹6.5 crore. Approved 80.81% to a minority that included two public sector banks — with the tribunal's own bench divided before a tie-breaking member stepped in. Subhash Chandra (Goenka), founder of the Essel Group and promoter emeritus of Zee, has settled a personal guarantee liability of ₹22,006 crore for ₹6.5 crore. The National Company Law Tribunal approved the plan this week. The case began small. In 2022, Indiabulls Housing Finance — now Sammaan Capital — moved against Chandra over a personal guarantee on a ₹170 crore loan to Vivek Infracon. By the time the insolvency plea was admitted in 2024, admitted c...
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Punjab National Bank Ltd on path to cut NPAs: MD
Photo: The Economic Times
May 24, 2016: Punjab National Bank Ltd (Rs.71.95) has already recovered Rs.1,800 crore in 54 days of Q1 FY17 against the targeted Rs.5,000 crore in the first quarter, MD and CEO Usha Ananthasubramanian said.

“You must see the robustness of the bank. The bank is very solid, otherwise it would not have made Rs.12,000-crore operating profit. We would like to resolve and minimise NPAs,” she said while addressing media persons in Mumbai on Tuesday.

PNB would be cautious about lending to sectors such as steel and textiles, she observed.

She said that the bank was undertaking a cost-cutting exercise and expected to maintain its cost-to-income ratio just above 40% for the next couple of years. 

PNB’s cost-to-income ratio for FY16 stood at 44.94% compared with 46.74% in FY15.

Courtesy: The Hindu Business Line

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