M&A

M&A

SBI to sell six NPAs to recover Rs.406-Cr

PTI  

The State Bank of India has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recover dues of nearly INR 406 crore. The six NPA accounts are - Patna Bakhtiyarpur Tollway with outstanding of INR 230.66 crore; Steelco Gujarat Ltd INR 68.31 crore; GOL Offshore Ltd INR 50.75 crore; Andhra Ferro Alloys Ltd INR 26.73 crore; Guru Ashish Taxfab INR 17.07 crore and Genix Automations Pvt Ltd INR 12.23 crore. The auction of Patna Bakhtiyarpur Tollway, Steelco Gujarat Ltd, Andhra Ferro Alloys, Genix Automations and Guru Ashish Texfab will be held under Swiss Challenge Method, based on an existing offer in hand, who will have the right to match the highest bid.