State Bank of India (SBI) has lined up various non-performing (NPAs) assets up for sale October- November, including the fraud account of Sintex BAPL, to recover over Rs 746 crore. In an auction scheduled for November 4, SBI will put up NPAs for sale to asset reconstruction companies (ARCs)/ financial institutions (FIs), banks, or Non-Banking Financial Companies (NBFCs).
The auction of NPAs will include accounts of Sintex BAPL with an outstanding of Rs 197.74 crore; Surat Hazira NH6 Tollway of exposure of Rs 335.54 crore and Shreebhav Polyweaves (Rs 20.20 crore).
Later this month on October 31, e-auction of three accounts will take place: VVF India with loan outstanding of Rs 154.37 crore; Ashok Magnetics (formerly AML Steels) Rs 23.82 crore and Agarwalas Polytrade (Rs 15.03 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.
