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SBI lines-up 12 NPA acs for sale to ARCs to recover dues of over Rs.820-Cr

Economic Times  

State Bank of India (SBI) has lined-up 12 non-performing assets (NPAs) on sale to recover loan dues of over INR 820 crore. The bank has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs). On March 30, the bank will conduct e-auction of six accounts with a total outstanding of INR 112.05 crore. These accounts are : Anupam Industries with outstanding of INR 46.38 crore; Clutch Auto (INR 26.14 crore); Kingston Paptech Pvt Ltd (INR 17.15 crore); Sambhav EXIM (INR 11.39 crore); Vraj Cotspin Pvt Ltd (INR 8.06 crore) and Ghantakarna Enterprise (INR 2.93 crore). The bank will auction four NPA accounts on April 13, with total dues of INR 125.32 crore. These accounts are : Anamika Conductors (INR 102.30 crore); Madhav Cotton Ginning & Pressing Factory (INR 16.80 crore) ; Om Kailash Cotton (INR 5.23 crore) and Ajanta Ellora Estates (INR 0.99 crore). NPA account Topworth Urja & Metals Ltd, with a loan outstanding of INR 396.74 crore is to be sold in an e-auction to be held on March 29, 2022. With reserve price fixed at INR 85 crore. The account will be sold on a cash/cash-cum-SR ratio of 50:50. Another account, Balasore Alloys ,with dues of INR 186.10 crore (reserve price INR 178.22 crore) will also be e-auctioned on March 29.