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SBI, Union Bank to sell NPAs worth Rs 2,836 crore in January

SBI, Union Bank to sell NPAs worth Rs 2,836 crore in January

SBI, Union Bank to sell NPAs worth Rs 2,836 crore in January
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By PTI Jan 3, 2020 7:42:38 AM IST (Published)

SBI has put on sale three assets worth Rs 1,554.87 crore and the Union Bank of India has invited bids to sell 11 NPAs worth Rs 1,280.87 crore through e-auctions during January.

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

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According to public notices by the two lenders, the SBI has put on sale three assets worth Rs 1,554.87 crore and the Union Bank of India has invited bids to sell 11 NPAs worth Rs 1,280.87 crore through e-auctions during January.
SBI will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on January 17.
The bank said Rohit Ferro Tech will be sold on cash cum securities receipts with a 50:50 ratio and Impex Ferro Tech only on 100 percent cash. Both the companies are promoted by Kolkata-based SKP Group which is into manufacturing, trading, import and export of ferro alloys. The group also has presence in steel, power cement sector.
In a notice on its website on December 12, SBI had sought bids to sell another Kolkata-based engineering firm Avani Projects and Infrastructure, having an outstanding loans of Rs 40.53 crore.
The bad asset will be sold on 100 percent cash basis through an e-auction to be held on January 10.
Public sector lender Union Bank has invited all-cash bids for 11 NPAs.
The bank is selling GVK Power Goindwal Saheb (Rs 443.84 crore), Chennai Elevated Tollway (Rs 192.24 crore), Rajamundry Godavari Bridge (Rs 153.03 crore), Sona Alloys (Rs 135.58 crore), Supreme Manorvada Bhiwandi Tollways (Rs 113.95 crore) and NSSL Ltd (Rs 61.63 crore).
The other five smaller NPAs includes Shri Raghunath Rai Memorial (Rs 51.91 crore), Vikas WSP (Rs 46.45), Kamachi Industries (Rs 28.37 crore), Karur KCP Packaging (Rs 26.55 crore) and Pacific Hospitals (Rs 5.87 crore).
All the 11 assets were declared NPA between December 2012 and November 2017, Union Bank said. The auction will be conducted on January 13.
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