SBI launched a call for tenders for two NPA accounts with arrears of almost ₹60 crores.
“Regarding the bank’s policy on the sale of financial assets, in accordance with regulatory guidelines, we put these accounts for sale to ARCs / banks / NBFC / FIs, under the terms and conditions stated therein”, said SBI in a remark sale.
The bank put the accounts of NS Engineering Projects up for sale, with an outstanding loan of ₹36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes ₹22.72 crore to SBI.
The reserve price of these non-performing assets (NPA) for their disposal has been set at ₹17.19 crores and ₹10.50 crores, respectively.
The electronic auction for these two accounts will take place on July 7, 2021.
Interested Asset Reconstruction Companies (ARCs) / Banks / Non-Bank Financial Corporations (NBFCs) / Financial Institutions (FIs) may conduct due diligence on these assets with immediate effect, after submitting an expression of interest and signing an non-disclosure agreement (NDA). ) with the bank, said SBI.
“We reserve the right not to go ahead with the proposed sale at any time, without giving a reason. The bank’s decision in this regard will be final and binding,” he added.