We submit herewith copies of newspaper publications w.r.t. amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank - Expert Committee/Grievance Redressal Committee for addressing objections on Share Exchange Ratio, published by Punjab National Bank(''Transferee Bank'')on 20.03.2020.
Share Exchange Ratio pursuant to Scheme of Amalgamation of Oriental Bank of Commerce (OBC) and United Bank of India (UBI) into Punjab National Bank (PNB) notified on 4th March, 2020 and Intimation of Record Date
United Bank of India (UBI), the leader of a consortium of 28 lenders, has identified Simplex Infra account as 'non-performing asset' (NPA) in the third quarter of FY20, people familiar with the matter said. Bank of India too marked Simplex Infra's Rs 24.33 crore in working capital loan as NPA in February.
The Board of Directors of the Bank at its meeting held on February 6, 2020 at Head Office, Kolkata has inter alia approved and adopted the Unaudited Financial Results for the quarter and nine months period ended December 31, 2019. A copy of the Unaudited Financial Results along with the Limited Review Report for the quarter /nine months ended 31st December, 2019 is enclosed. Further, Deviation/Variation in Utilization of Funds Raised for the quarter ended December 31, 2019 was 'Nil' and Statement of Deviation/Variation in the prescribed format is enclosed herewith.