Mumbai: It has been brought to the notice of IDBI Bank that a news article is in circulation stating that a default of Rs. 6,710 crore has been made by a Diamantaire group to IDBI Bank. The news item further mentioned the name of M/s Sanghavi Exports International Pvt. Ltd., which is a Non-Performing Account (NPA) with the Bank. The Bank hereby advises that the news item contains certain factual inaccuracies. IDBI Bank has exposure to M/s Sanghavi Exports International Pvt. Ltd. (which is NPA), but the current Principal Outstanding is only Rs. 16.72 crore (Rupees Sixteen Crore and Seventy Two Lakh only) and the account is fully provided. IDBI Bank has initiated requisite actions to recover its outstanding dues. You are requested to kindly take the above intimation on record in terms of Regulation 30 of SEBI (LODR) Regulations, 2015.
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