State Bank of India (SBI) is all set to place 12 non-performing assets (NPAs) for sale to recover loan dues worth over Rs 820 crore. These accounts will be sold to asset reconstruction companies (ARCs)/banks/non-banking financial companies (NBFCs)/financial institutions.
NPA account Topworth Urja & Metals, with a loan outstanding of Rs 396.74 crore is to be sold in an e-auction to be held on March 29, 2022. With reserve price fixed at Rs 85 crore, the NPA account will be sold on a cash/cash-cum-SR ratio of 50:50. Another account, Balasore Alloys with dues of Rs 186.10 crore (reserve price Rs 178.22 crore) will also be e-auctioned on March 29.
On March 30, the bank will conduct e-auction of as many as six accounts with a total outstanding of Rs 112.05 crore. These accounts are : Anupam Industries with outstanding of Rs 46.38 crore; Clutch Auto (Rs 26.14 crore); Kingston Paptech (Rs 17.15 crore); Sambhav EXIM (Rs 11.39 crore); Vraj Cotspin (Rs 8.06 crore) and Ghantakarna Enterprise (Rs 2.93 crore).
The bank will auction the rest of four NPA accounts on April 13, with total dues of Rs 125.32 crore.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
