Interest Maintained in Suspense Account Forms Part of Bank Debt, Supreme Court Restores PNB's ₹54.90 Lakh Claim: Supreme Court

The Supreme Court has set aside the Orissa High Court’s order that had reduced the amount payable to Punjab National Bank (PNB) to ₹29,55,678.02 as full and final settlement of a loan account. The Supreme Court held that the High Court had failed to consider the interest amount maintained by the bank separately in a suspense account after the loan account became a non-performing asset. The Court consequently restored the…