SBI will sell 2 NPA accounts in July to collect dues worth 60 crore

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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.

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