Oriental Bank of Commerce (OBC), which had acquired Global Trust Bank last year, has filed 30 First Information Reports (FIRs) against the erstwhile Global Trust Bank (GTB) defaulters to recover Rs 1,300 crore of bad loans. | |
| Of the 30 FIRs, Central Bureau of Investigation has registered 10 cases, K N Prithviraj, chairman and managing director, OBC, told mediapersons after inaugurating a retail outlet of the bank in West Delhi. |
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| FIRs will make the defaulters come on the negotiating table, he said, adding the bank is interested in the recovery of money, while law enforcement agencies will see the legal part of it. |
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| OBC took a hit of about Rs 1,400 crore losses incurred by GTB. Even after acquiring GTB, OBC's net NPAs stood at just 1 per cent, he said. |
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| The bank has thus far recovered Rs 300 crore of bad loans of GTB and all bad loans are not irrecoverable as good number of them is backed by immovable properties, the CMD said. |
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