The bank said it has already made provisions amounting to Rs 900.20 crore against the bank's exposure in BPSL.
"It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds from consortium lender banks. At present, the case is at The National Company Law Tribunal (NCLT) which is in advance stage and the Bank expects good recovery in the account," Allahabad Bank
At 09:30 am. the stock had partially erased its early morning loss, and was trading 9 per cent lower at Rs 43 on the BSE. In comparison, the S&P BSE Sensex was up 0.44 per cent at 38,906 points. A combined 4.95 million shares have changed hands on the counter on the NSE and BSE so far.