The soaring NPAs, despite several interventions like Dispute Resolution Tribunals, Asset Reconstruction Companies and Insolvency and Bankruptcy Code, now get another pill
The special court had in December 2019 declared Nirav Modi a fugitive economic offender, on a plea of the Enforcement Directorate (ED), which is conducting a probe into the case.
After the approval of resolution plan from NCLT/NCLAT, the loan account will be classified under 'green' category from 'amber' category, the company said in a statement on Monday.
Addressing a press conference here on Saturday, he said the bank is back to being profitable and it has reported over Rs 300 crore profit in the first quarter this financial year