Announced Mon, 20 Jul · 22:34 IST
PNB Housing declares Rs 421.81 Cr fraud in one borrower account
PNBHOUSING · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.7%1-day move
₹1098.80
prior close
₹1095.90
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.3-0.0-0.1-0.7-1.7-2.9-3.4-2.1-2.4—————
Up moveDown movePending
AI summary
PNB Housing Finance has declared a fraud of Rs 421.81 Crore involving borrower M/s Happy Home Corporation. Credit facilities were sanctioned and disbursed between 2016 and 2021. The accounts were already classified as NPAs and fully written off in FY 2022-23, so there is no further financial impact. The matter has been reported to NHB, and legal action is being pursued.
Likely market impact
No fresh financial hit since loans were already written off in FY23. Reported to NHB and legal action underway. Sentiment impact likely minor.