Nirav Modi case: PNB recovers $3.25 million from bankruptcy proceedings in US

Upon liquidation of the debtors' assets by the US Chapter 11 Trustee, a sum of $ 11.04 million (Rs 82.66 crore) is available for distribution to unsecured creditors including PNB. While the PNB has received the first tranche of US $3.25 million, further recovery therefrom is subject to other expenses and settlement of claims of other claimants.

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