Money & Banking

SBI, Union Bank to sell NPAs of ₹2,836 crore this month

PTI Mumbai | Updated on January 02, 2020 Published on January 02, 2020

State Bank of India (SBI) and Union Bank of India are looking to sell their non-performing loans totalling ₹2,836 crore to banks, asset reconstruction companies and other financial institutions.

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

The NPAs will be sold through e-auctions in January. In a notice issued on Thursday, SBI said it will sell two NPAs – Rohit Ferro Tech with an outstanding amount of ₹1,313.67 crore and Impex Ferro Tech with dues of ₹200.67 crore – on January 17.

The bank said Rohit Ferro Tech will be sold on cash-cum-security receipts with a 50:50 ratio and Impex Ferro Tech on 100 per cent cash basis. Both companies are promoted by the Kolkata-based SKP Group, which is into manufacturing, trading, import and export of ferro alloys. The group also has a presence in steel, power cement sector.

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

The bad asset will be sold on 100 per cent cash basis through an e-auction on January 10. Public sector lender Union Bank has invited all-cash bids for 11 NPAs. The bank will sell the NPAs of GVK Power Goindwal Saheb (₹443.84 crore), Chennai Elevated Tollway (₹192.24 crore), Rajamundry Godavari Bridge (₹153.03 crore), Sona Alloys (₹135.58 crore), Supreme Manorvada Bhiwandi Tollways (₹113.95 crore) and NSSL (₹61.63 crore).

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



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Published on January 02, 2020
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