Rolta India Denies Fraud Declaration, Clarifies Bank of India Disclosure

Rolta India Ltd has issued a statement denying the receipt of any fraud declaration from Bank of India. The company has also provided clarification regarding the recent disclosure made by the bank, emphasizing its commitment to transparency and compliance with regulatory norms.
The clarification comes in response to reports suggesting that Bank of India had classified a non-performing asset (NPA) linked to Rolta India as fraud. Rolta India has categorically stated that it has not been formally notified of such a declaration and is actively engaging with the concerned authorities to address the matter.
This development highlights the ongoing challenges faced by companies in navigating financial and regulatory complexities. Rolta India has assured its stakeholders of its dedication to resolving the issue and maintaining its operational integrity.

Sources: CNBC TV18, Economic Times, Insolvency Tracker.