New Delhi: The country’s largest lender State Bank Of India a dozen standing in line non-performing assets (NPA) to be realized on sale loan outstanding As per the notification of the bank, over Rs 820 crore.
With reference to the Bank’s policy on sale of financial assets, in line with regulatory guidelines, SBI stated that it has placed these accounts for sale to Asset Reconstruction Companies (ARCs)/Banks/Non-Banking Financial Companies.NBFC)/Financial Institutions (FIs), on the terms and conditions indicated against them.
In various notices on its website, State Bank of India (SBI) has put up a total of 12 bad properties for sale during the month till April 13.
The NPA account Topworth Urja & Metals Ltd., with a loan of Rs 396.74 crore is to be sold in an e-auction scheduled to be held on March 29, 2022. With a reserve price of Rs 85 crore, SBI said the NPA account will be sold in the cash/cash-cum-SR ratio of 50:50.
“The bid with the highest cash component will be treated as successful bid,” a notice said.
Another account of Balasore Alloys with an outstanding of Rs 186.10 crore (reserve price Rs 178.22 crore) will also be e-auctioned on March 29.
“If the bid exceeds the total outstanding amount as on the date of assignment, as well as the outstanding non-fund based facilities, the Bank reserves the right to retain such higher amount as premium in its books and to refund the same. is not under any liability to any of the concerned parties including the borrower,” it added on Balasore Mishra.
The bank will conduct e-auction of six accounts for a total of Rs 112.05 crore on March 30.
The accounts are: Anupam Industries owes Rs 46.38 crore; Clutch Auto (Rs 26.14 crore); Kingston Paptech Pvt Ltd (Rs 17.15 crore); Sambhav Exim (Rs 11.39 crore); Vraj Cotspin Private Limited (Rs 8.06 crore) and Ghantakarna Enterprise (Rs 2.93 crore).
SBI said that the outstanding debt on Anupam Industries is excluding BG (bank guarantee) of Rs 4.74 crore.
The country’s largest lender will auction the remaining four NPA Accounts With a total outstanding amount of Rs 125.32 crore as on April 13.
These NPA accounts are: Anamika Conductor with an outstanding loan of Rs 102.30 crore; Madhav Cotton Ginning and Pressing Factory (Rs 16.80 crore); Om Kailash Cotton (Rs 5.23 crore) and Ajanta Ellora Estates (Rs 0.99 crore).
SBI said, “Interested ARCs/Banks/NBFCs/FIs may do due diligence of these properties with immediate effect after submitting an expression of interest and executing a non-disclosure agreement with the bank.”
With reference to the Bank’s policy on sale of financial assets, in line with regulatory guidelines, SBI stated that it has placed these accounts for sale to Asset Reconstruction Companies (ARCs)/Banks/Non-Banking Financial Companies.NBFC)/Financial Institutions (FIs), on the terms and conditions indicated against them.
In various notices on its website, State Bank of India (SBI) has put up a total of 12 bad properties for sale during the month till April 13.
The NPA account Topworth Urja & Metals Ltd., with a loan of Rs 396.74 crore is to be sold in an e-auction scheduled to be held on March 29, 2022. With a reserve price of Rs 85 crore, SBI said the NPA account will be sold in the cash/cash-cum-SR ratio of 50:50.
“The bid with the highest cash component will be treated as successful bid,” a notice said.
Another account of Balasore Alloys with an outstanding of Rs 186.10 crore (reserve price Rs 178.22 crore) will also be e-auctioned on March 29.
“If the bid exceeds the total outstanding amount as on the date of assignment, as well as the outstanding non-fund based facilities, the Bank reserves the right to retain such higher amount as premium in its books and to refund the same. is not under any liability to any of the concerned parties including the borrower,” it added on Balasore Mishra.
The bank will conduct e-auction of six accounts for a total of Rs 112.05 crore on March 30.
The accounts are: Anupam Industries owes Rs 46.38 crore; Clutch Auto (Rs 26.14 crore); Kingston Paptech Pvt Ltd (Rs 17.15 crore); Sambhav Exim (Rs 11.39 crore); Vraj Cotspin Private Limited (Rs 8.06 crore) and Ghantakarna Enterprise (Rs 2.93 crore).
SBI said that the outstanding debt on Anupam Industries is excluding BG (bank guarantee) of Rs 4.74 crore.
The country’s largest lender will auction the remaining four NPA Accounts With a total outstanding amount of Rs 125.32 crore as on April 13.
These NPA accounts are: Anamika Conductor with an outstanding loan of Rs 102.30 crore; Madhav Cotton Ginning and Pressing Factory (Rs 16.80 crore); Om Kailash Cotton (Rs 5.23 crore) and Ajanta Ellora Estates (Rs 0.99 crore).
SBI said, “Interested ARCs/Banks/NBFCs/FIs may do due diligence of these properties with immediate effect after submitting an expression of interest and executing a non-disclosure agreement with the bank.”