State Bank Of India

State Bank of India (SBI) has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly Rs 406 crore. The six NPA accounts put up for sale to the ARCs are -- Patna Bakthiyarpur Tollway with outstanding of Rs 230.66 crore; Steelco Gujarat Rs 68.31 crore; GOL Offshore Rs 50.75 crore; Andhra Ferro Alloys Rs 26.73 crore; Guru Ashish Taxfab Rs 17.07 crore and Genix Automations Rs 12.23 crore.

The e-auction for Patna Bakthiyarpur is scheduled to take place on February 23, and GOL Offshore on February 21. Genix Automations and Guru Ashish Texfab are to be auctioned on February 15, while e-auction for Steelco Gujarat and Andhra Ferro Alloys is scheduled for March 4. These sales are subject to approval by the competent authority of the bank. The auction of Patna Bakthiyarpur Tollway, Steelco Gujarat, Andhra Ferro Alloys, Genix Automations and Guru Ashish Texfab will be held under Swiss Challenge Method, based on an existing offer in hand, who will have the right to match the highest bid.

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.