Financial institution of India (BoI) on Wednesday declared its publicity to Rolta India Ltd., amounting to Rs 616.30 crore, as fraud.
The financial institution knowledgeable the inventory exchanges that the complete excellent quantity has been totally provisioned and the knowledge has been reported to the Reserve Financial institution of India (RBI) on Wednesday.
Rolta India Ltd., an IT options supplier, has confronted extreme monetary misery in recent times, resulting in its submitting of chapter in January 2023.
As per an ET report of Might 2024, Rolta owes banks led by Union Financial institution of India (UBI) Rs 7,100 crore and one other Rs 6,699 crore to unsecured overseas bondholders led by Citigroup, including as much as a complete debt of near Rs 14,000 crore.
