SBI puts up 11 NPA a/cs for sale to recover Rs 1,019 cr


Team Udayavani, Nov 4, 2018, 11:45 AM IST

New Delhi: SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore.

The country’s largest lender said the e-auction of these NPA accounts will take place on November 22.

“In terms of the bank’s policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to ARCs/ Banks/ NBFCs/ FIs,” SBI said in an auction notice on its website.

Of these 11 accounts, Janki Corp Ltd has the highest outstanding dues of Rs 592.53 crore.

Among others, Venus Remedies Ltd has to repay Rs 83.01 crore, SBS Transpole Logistics Pvt Ltd Rs 63.36 crore, R S Luth Education Trust Rs 60.62 crore, Nilachal Iron & Power Ltd Rs 52.41 crore and Sri Balmukund Polyplast Rs 50.12 crore. The rest of the five companies owe the bank the remaining Rs 117 crore.

The interested asset reconstruction companies (ARCs)/ banks/ non-banking financial companies (NBFCs)/ financial institutions (FIs) can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a Non-Disclosure Agreement (NDA) with the bank, State Bank of India (SBI) said.

Once the deal is finalised, the assignment deed and other legal formalities will be completed in the shortest possible time as mutually agreed upon, it added.

SBI’s gross NPAs rose to 10.69 per cent of the total advances at the end of the first quarter ended June this fiscal year, as against 9.97 per cent a year ago. In value terms, they increased to Rs 2,12,840 crore, from Rs 1,88,068 crore.

SBI has reported a hefty loss of Rs 4,876 crore for the June quarter due to higher NPAs or bad loans. 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

SC notice to Karnataka, DK Shivakumar on CBI plea against withdrawal of consent by state govt

Will remain active in politics till my last breath: JD(S) patriarch & ex-PM Deve Gowda

BJP calls Congress govt ‘laughing stock’ as ‘samosa politics’ heats up in Himachal

Chikkaballapur: Yoga teacher feigns death by holding her breath, escapes murder bid

World Bunts Summit to be held in Mumbai on December 7

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

Related Articles More

Sensex, Nifty fall for 2nd day on FII selling; RIL, ICICI Bank major drag

Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision

SC orders liquidation of grounded air carrier Jet Airways’ assets

Home-cooked meals become dearer in October on costlier vegetables

Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

No greater feeling than serving those in need: Outgoing CJI D Y Chandrachud

Baikampady: Here, even elederly have to crawl under trains to cross tracks!

CJI Chandrachud: A legacy of landmark verdicts that shaped society and some controversy too

Neeraj Chopra to head to South Africa for off-season training later this month

Sensex, Nifty fall for 2nd day on FII selling; RIL, ICICI Bank major drag

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.