CiN: Les1 91 pNl 994pLC0763
Induslnd Bank | |
The Asst, Vice President | The Depufy Gcneral Manager |
Listing Department | Corporate Relationship Dept. |
National Stock Exchange of India Ltd. | BSE Ltd. |
Exchange Plaza, 5lh Floor | 1" Floor, New Trading l{ing |
Plot No.C/l, G Block | Rotunda lluilding, P. J. 'l'owers |
Bandra-Kurl a Complex | Dalal Street, Fort |
Bandra (East), | Mumbai 400 001 |
Mumbai - 400 051 | |
NSE Symbol: INDUSINDBK | |
BSll Scrip Code: 532187 | |
Madam i Dear Sir, | |
Subject: Statement from Induslnd Bank |
13
February 20,2018
"lnduslnd Bank has no direct credit exposurcs to Nirav Modi nor any indirect credit exposures basis the LOUs issucd by PNts.
As regards Gitanjali Gcms, the Bank has a small, two digit cxposure, not linked to any LOlJs.
In this connection, our Bank will issue a Prcss Release today. A copy ofthe same is enclosed for your kind perusal and rccord.
Thanking you,
Yours faithfully,
For Induslnd Bank Limitcd
flaresh Gajwani
Company Secrctary
Induslnd Bank Limited,70l -801 Solitaire Corporate Park, I67, Guru Hargovindji Marg, Andheri (E), Mumbai 400 093. Maharashtra, India Tel: (022) 66412200 Fax lO22) 66412224
RegirteJed Olfi(e:2401 Gen. Thimmayya Road, Pune 4t I OO L India
Tel.: (020) 2634 3201 Fax: (O2O) 2634 3241 Visit us atwww.indusind.com CIN: 1651 91 PNl 994P1C076333
Induslnd Bank
February 20, 2018
Statement from Induslnd Bank
"lnduslnd Bank has no direct credit exposures to Nirav Modi nor any indirect credit exposures basis the LOUS issued by pNB.
As regards Gitanjali Gems, the Bank has a small, two digit exposure, not linked to any LOUS.
As mentioned by The Gem & jewe|ery Export promotion councir, India (GpEC) in their press rerease, there are stringent norms for Bank Finance to the Gem & iewellery Trade stipulated by Reserve Bank of India and the Government of India, the present incident has taken prace due to non-adherence of proceoures and norms laid down and this stray incident is not expected to have any contagion effect on the overatl Gems and Jewellery Business. ,,
For media oueries
Anu Raj
Induslnd Bank Ltd. m kte@ indusind.com
Rasika Badshah Adfactors PR Pw. Ltd.
Rasika.badshah@adfactorsor.com +97 9821631379
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