PNB said in a notification earlier this week that its Stressed Assets Targeted Resolution Action (SASTRA) Division has put on sale these 21 accounts which cumulatively owe the bank Rs 1,320.19 crore.
"We intend to place these accounts for sale to ARCs (asset reconstruction companies) /NBFCs (non-banking finance companies)/other banks/FIs (financial institutions) etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said.
The bank's NPA accounts up for sale include Moser Baer Solar with outstanding of Rs 233.06 crore, Divine Alloys & Power Co (Rs 200.87 crore), Divine Vidyut (Rs 132.66 crore), Chincholi Sugar & Bio Industries (Rs 114.42 crore), Arshiya Northern FTWZ Ltd Rs (96.70 crore), Birla Surya (Rs 73.58 crore) Shri Saikrupa Sugar & Allied Industries (Rs 63.35 crore) and Raja Forgings & Gears Ltd (Rs 59.73 crore).
Among the other major defaulters listed are Templeton Foods (Rs 53.17 crore), Rathi Ispat (Rs 45.48 crore) and Jain Overseas (Rs 33.41 crore).
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