Pnb Slaps Notice On Silverline

Punjab National Bank (PNB) has slapped a notice on Silverline Technologies Ltd under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance for recovery of outstanding dues amounting to Rs 5 crore.

The bank has also filed a petition in the Bombay High Court for winding up the company for non-payment of dues.

In the event of non-payment of the dues (Rs 499.86 lakh as of December 3, 2002), the bank is seeking to enforce mortgage of Silverline