PNB issued over 41k LoUs since 2011- FinMin
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In reply to another question, Minister of State for Finance Shiv Pratap Shukla said that as per PNB, the total number of LoUs issued to the companies of Nirav Modi, his relatives and the Nirav Modi Group are 1,213, and to Mehul Choksi, his relatives and the Gitanjali Group are 377.
He further said that "as per PNB inputs", the amount of repayment made by the companies against each LoU cannot be currently ascertained as the matter is under investigation.
Shukla further said PNB has apprised that payment of LoU is a contingent liability and may fall back upon the bank on due date only if the same is not paid on or before due date by the buyer. #casansaar (Source - PTI)
He further said that "as per PNB inputs", the amount of repayment made by the companies against each LoU cannot be currently ascertained as the matter is under investigation.
Shukla further said PNB has apprised that payment of LoU is a contingent liability and may fall back upon the bank on due date only if the same is not paid on or before due date by the buyer. #casansaar (Source - PTI)
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