Punjab National Bank reports ₹2,434 crore fraud linked to SREI promoters

Punjab National Bank (PNB) has reported borrowal fraud cases amounting to ₹2,433.99 crore against the erstwhile promoters of SREI Equipment Finance Ltd (SEFL) and SREI Infrastructure Finance Ltd (SIFL) to the Reserve Bank of India (RBI). The disclosure, dated December 26, 2025, was made in compliance with SEBI (LODR) Regulations, 2015.

The reported fraud against SEFL stands at ₹1,240.94 crore, while the fraud associated with SIFL is ₹1,193.06 crore. PNB has made provisions for 100% of the entire outstanding amount for both entities, indicating full recognition of the potential loss from these frauds.

Both SREI Equipment Finance Ltd and SREI Infrastructure Finance Ltd were successfully resolved under the Corporate Insolvency Resolution Process (CIRP) by the Hon'ble NCLT. This disclosure aims to keep the stock exchanges and the public informed about these material events.