New Delhi: Nation’s largest lender SBI has lined up six non-performing belongings (NPAs) on the market to asset reconstruction firms (ARCs) to recuperate dues of practically ₹406 crore.
The six NPA accounts put up on the market to the ARCs are — Patna Bakthiyarpur Tollway with excellent of ₹230.66 crore; Steelco Gujarat Ltd ₹68.31 crore; GOL Offshore Ltd ₹50.75 crore; Andhra Ferro Alloys Ltd ₹26.73 crore; Guru Ashish Taxfab ₹17.07 crore and Genix Automations Pvt Ltd ₹12.23 crore.
“When it comes to the financial institution’s coverage on sale of monetary belongings, in keeping with the regulatory tips, we place the next accounts on the market to ARCs/banks/ NBFCs/FIs, on the phrases and circumstances indicated there towards,” SBI stated within the sale notices for these belongings.
The e-auction for Patna Bakthiyarpur is scheduled to happen on February 23, and GOL Offshore on February 21. Genix Automations and Guru Ashish Texfab are to be auctioned on February 15, whereas e-auction for Steelco Gujarat and Andhra Ferro Alloys is scheduled for March 4.
SBI stated these gross sales are topic to approval by the competent authority of the financial institution.
The public sale of Patna Bakthiyarpur Tollway, Steelco Gujarat Ltd, Andhra Ferro Alloys, Genix Automations and Guru Ashish Texfab shall be held below Swiss Problem Methodology, based mostly on an present provide in hand, who can have the correct to match the very best bid, the lender stated.
Beneath the Swiss Problem Methodology, an bidder makes a proposal for a mission (right here asset). The vendor places the main points of the mission in public in order that others can match it. After receipt of bids, the unique contractor will get a chance to match the perfect bid.
The ARCs/banks/NBFCs/FIs can conduct due diligence of those belongings with fast impact, after submitting expressions of curiosity and executing non-disclosure agreements with the financial institution.
“We reserve the correct to not go forward with the proposed sale at any stage, with out assigning any motive. The choice of the financial institution on this regard shall be last and binding,” SBI stated.
Supply: Live Mint