Indian Bank declares five NPA accounts worth Rs 148 cr as fraud

Indian Bank on Monday declared five NPA accounts, including Cox & Kings and Era Infra Engineering, having Rs 148.03 crore exposure as fraud.

The five accounts are - Cox & Kings Ltd that diverted funds worth Rs 68.46 crore; Era Infra Engineering Rs 19.36 crore; Supreme Tex Mart Rs 16.36 crore; RSAL Steel Pvt Ltd Rs 27.35 crore and Pune Buildtech Rs 16.50 crore, Indian Bank said in a regulatory filing.

The bank said it has fully provided for these non-performing assets.