Punjab National Bank has identified Jeerath Path Labs and its proprietor, Mr. Prashant Jeerath, as wilful defaulters due to their failure to repay dues despite having the capacity to do so.

The bank noted that Mr. Jeerath’s total assets are substantial, at over ₹89.61 crore.

Investigations revealed significant diversion of funds, including ₹0.30 crore for property and multiple transfers totaling ₹7.58 crore to personal accounts in other banks.

The outstanding loan for Jeerath Path Labs stands at ₹9.23 crore, highlighting a serious breach of lending terms.

This action underlines the bank's effort to address loan non-compliance.