In a recent disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, Bank of India (BOI) has officially declared Rolta India Ltd. as a fraud account due to its non-performing asset (NPA) status. The outstanding amount in question is ₹616.30 crore, which has been fully provisioned by the bank.

Regulatory Disclosure and Compliance

As per SEBI regulations and the bank’s internal policy on material disclosures, this information has been formally reported to the Reserve Bank of India (RBI) on March 26, 2025. This action aligns with RBI’s directive to classify and report fraudulent accounts to ensure transparency and accountability in the banking sector.

Financial Impact on Bank of India

Despite the significant amount involved, Bank of India has already made a 100% provision (₹616.30 crore) against the NPA, which means the bank has accounted for the loss in its financial books. This proactive step minimizes the immediate financial impact on the bank’s balance sheet.

About Rolta India Ltd.

Rolta India Ltd., once a leading technology and engineering solutions provider, has been facing financial difficulties in recent years. The company’s financial troubles have resulted in defaults on loan repayments, leading to this NPA classification and fraud declaration.

This declaration highlights the ongoing challenges faced by Indian banks in managing corporate loan defaults. With increasing scrutiny from regulatory authorities, financial institutions must continue to strengthen their risk assessment and due diligence processes.

Disclaimer

The information provided in this article is based on official disclosures from Bank of India and regulatory bodies. This article is for informational purposes only and does not constitute financial or investment advice. Readers are advised to conduct their own research or consult financial experts before making any investment decisions.