Sumary of Pune: Bank of Maharashtra expects early resolution for DSK cases:
- Bank of Maharashtra hopes for an early resolution of the cases before the National Company Law Appellate Tribunal (NCLAT) pertaining to the DS Kulkarni Group.
- During a press meet organised by the bank on Thursday to announce the first quarter results of the 2021-22 financial year, AS Rajeev, managing director and chief executive director of the bank, said their application is pending before the tribunal.
- Multiple applications of the bank are pending before the tribunal and as Rajeev said, they are expecting resolution of them soon.
- The provision coverage ratio improved to 90.7 per cent as on June 30, 2021, as against 85.62 per cent as on June 30, 2020. The same was 89.86 per cent as on March 31, 2021. During the quarter, the bank made Covid-19 provision of Rs 285 crore.