State Bank of India and Punjab National Bank are in dispute over Rs. 300 crores collected from the sale of assets of a Corporate Debtor before the Corporate Insolvency Resolution Process began. Punjab National Bank alleges that State Bank of India, acting as the lead bank, encashed the entire amount during the moratorium period and did not distribute the shares to other banks involved. This amount was also not reflected in the Resolution Plan. All the banks had a charge on the sale proceeds. The Resolution Plan approved by the Adjudicating Authority is not under challenge.

State Bank of India and Punjab National Bank are in dispute over Rs. 300 crores collected from the sale of assets of a Corporate Debtor before the Corporate Insolvency Resolution Process began. Punjab National Bank alleges that State Bank of India, acting as the lead bank, encashed the entire amount during the moratorium period and did not distribute the shares to other banks involved. This amount was also not reflected in the Resolution Plan. All the banks had a charge on the sale proceeds. The Resolution Plan approved by the Adjudicating Authority is not under challenge.