New Delhi: Another fraud, this time amounting to Rs 3,805.15crore has been reported at the state-run Punjab National Bank (PNB), this timeby the now-insolvent Bhushan Power and Steel Ltd (BPSL). In February 2018, theRs 13,500-crore scam involving diamantaires Nirav Modi and Mehul Choksi hadcome to light at the PNB.

In a regulatory filing on Saturday, PNB said that BPSL hadmisappropriated funds and manipulated books of accounts to raise funds fromconsortium lender banks."On the basis of forensic audit investigationfindings and the CBI filing a suo motu FIR against the company and itsdirectors alleging diversion of funds from banking system, a fraud of Rs3,805.15 core is being reported by bank to the RBI (Reserve Bank ofIndia)," said the statement.The PNB noted that it has already madeprovisions amounting to Rs 1,932.47 crore in its company accounts, as per theprescribed prudential norms.

The Rs 3,805.15-crore in the NPA account of Bhushan Power& Steel Ltd, included domestic exposure of Rs 3,191.51 crore at the bank`slarge Corporate branch at Chandigarh, overseas exposure of $49.71 million(around Rs 345.74 crore) at its Dubai branch and $38.51 million (around Rs267.90 crore) at the Hong Kong branch, PNB said.