New Delhi, Mar 11 (PTI) State-owned Indian Bank on Friday said it has declared NPA account Topsgrup Services as fraud for diversion of funds worth Rs 34.08 crore.

The non-performing asset (NPA) Topsgrup Services and Solutions Ltd has been declared as fraud and reported to the RBI as per regulatory requirement, Indian Bank said in a filing.

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The bank also said it holds provision of Rs 14.06 crore against this account.

The company is engaged in the business of providing security guard services.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)