E-Paper
SBI to sell 2 NPA accounts in July to recover dues worth ₹60 crore
State Bank of India has put up for sale the accounts of NS Engineering Projects, with loan outstanding of ₹36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes ₹22.72 crore to SBI.
SBI has invited bids for two NPA accounts with outstanding dues of nearly ₹60 crore.
"In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/ banks/ NBFCs/ FIs, on the terms and conditions indicated there against," SBI said in a sale notice.
The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of ₹36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes ₹22.72 crore to SBI.
The reserve price for these non-performing assets (NPAs) for the purpose of sale has been fixed at ₹17.19 crore and ₹10.50 crore, respectively.
The e-auction for these two accounts will take place on July 7, 2021.
The interested asset reconstruction companies (ARCs)/ banks/ non-banking financial companies (NBFCs) / financial institutions (FIs) can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a non-disclosure agreement (NDA) with the bank, SBI said.
"We reserve the right not to go ahead with the proposed sale at any stage, without assigning any reason. The decision of the bank in this regard shall be final and binding," it added.
