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SBI to auction NPAs worth Rs 2,337.88 crore on March 26

The lender said except Mittal Corp and Shree Vaishnav, the auctions are under the Swiss Challenge method and will be conducted on March 26

Press Trust of India 

SBI, State Bank of India

has put on sale six worth Rs 2,337.88 crore, which will be auctioned on March 26.

The bank is looking to sell all the accounts on a 100 percent cash basis to banks, ARCs, NBFCs and other financial institutions, according to the auction notice on the lender's website on Tuesday.

The accounts are (outstanding debt Rs 928.88 crore), (Rs 859.33 crore), (Rs 207.77 crore), Mittal Corp (Rs 116.34 crore), MCL Global Steel (Rs 100.18 crore), Shree Vaishnav Ispat (Rs 82.52 crore) and Gati Infrastructure (Rs 42.86 crore).

The lender said except Mittal Corp and Shree Vaishnav, the auctions are under the Swiss Challenge method and will be conducted on March 26.


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Last week, the bank had put onblock six other accounts worth Rs 1,307.27 crore-- Parental Drugs (Rs 429.72 crore), Kamachi Industries (Rs 365.68 crore), Jain Infraprojects (Rs 361.55 crore), MPK Ispat, MPK Steel and MPK Metals (Rs 53.86 crore), Balmukund Polyplast (Rs 50.12 crore) and Martina Biogenics (Rs 46.34 crore).

The auction these accounts will be conducted on March 22.

First Published: Tue, March 12 2019. 17:18 IST
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