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SBI, Union Bank to sell NPAs of Rs 2,836 cr this month through e-auctions

In a notice on its website on December 12, SBI had sought bids to sell another Kolkata-based engineering firm Avani Projects and Infrastructure, having an outstanding loans of Rs 40.53 crore

Press Trust of India  |  Mumbai 

SBI plans to mop up Rs 5,000-crore debt capital via tier-II bonds
All these NPAs will be sold through e-auctions during January.

The country's largest lender (SBI) and of India are looking to sell their non-performing loans totalling Rs 2,836 crore to banks, asset reconstruction and other financial institutions.

While SBI has put on sale Rs 1,554.87 crore of three assets, state-run of India has invited bids to sell 11 worth Rs 1,280.87 crore, according to separate public notices by the two lenders.

All these will be sold through e-auctions during January.

In a notice issued on Thursday, SBI said it will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on January 17.

The bank said Rohit Ferro Tech will be sold on cash cum securities receipts with a 50:50 ratio and Impex Ferro Tech only on 100 per cent cash.Both the are promoted by Kolkata-based SKP

Group which is into manufacturing, trading, import and export of ferro alloys. The group also has presence in steel, power cement sector.

In a notice on its website on December 12, SBI had sought bids to sell another Kolkata-based engineering firm Avani Projects and Infrastructure, having an outstanding loans of Rs 40.53 crore.

The bad asset will be sold on 100 per cent cash basis through an e-auction to be held on January 10. Public sector lender has invited all-cash bids for 11

The bank is selling GVK Power Goindwal Saheb (Rs 443.84 crore), Chennai Elevated Tollway (Rs 192.24 crore), Rajamundry Godavari Bridge (Rs 153.03 crore), Sona Alloys (Rs 135.58 crore), Supreme Manorvada Bhiwandi Tollways (Rs 113.95 crore) and NSSL Ltd (Rs 61.63 crore).

The other five smaller NPAs includes Shri Raghunath Rai Memorial (Rs 51.91 crore), Vikas WSP (Rs 46.45), Kamachi Industries (Rs 28.37 crore), Karur KCP Packaging (Rs 26.55 crore) and Pacific Hospitals (Rs 5.87 crore).

All the 11 assets were declared NPA between December 2012 and November 2017, Union Bank said. The auction will be conducted on January 13.

First Published: Thu, January 02 2020. 18:20 IST
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