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SBI lines up 6 NPA accounts for sale

February 07, 2022

SBI lines up 6 NPA accounts for sale
The country’s biggest lender SBI has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recuperate dues of almost ₹406 crores.

The six NPA accounts set available to be purchased to the ARCs are Patna Bakthiyarpur Tollway with a remarkable of ₹230.66 crore; Steelco Gujarat Ltd ₹68.31 crore; GOL Offshore Ltd ₹50.75 crore; Andhra Ferro Alloys Ltd ₹26.73 crore; Guru Ashish Taxfab ₹17.07 crore and Genix Automations Pvt Ltd ₹12.23 crore.
 
“As far as the bank’s strategy at a sale of financial assets, in accordance with the regulatory guidelines, we place the following accounts for sale to ARCs/banks/NBFCs/FIs, based on the conditions and conditions indicated there against,” SBI said in the sale notices for these assets.
 
The e-auction of Patna Bakthiyarpur is scheduled to take place on February 23, and GOL Offshore on February 21. Genix Automations and Guru Ashish Texfab are to be auctioned on February 15, while e-auction for Steelco Gujarat and Andhra Ferro Alloys is scheduled for March 4.
 
SBI said these sales are dependent upon endorsement by the competent authority of the bank. The closeout of Patna Bakthiyarpur Tollway, Steelco Gujarat Ltd, Andhra Ferro Alloys, Genix Automations and Guru Ashish Texfab will be held under the Swiss Challenge Method, in view of an existing offer in hand, who will have the right to match to the highest bid, the bank said.
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