State-owned Central Bank of India has put up for sale four stressed accounts, including Bhushan Power & Steel Ltd. and Essar Steel India Ltd., to recover dues of Rs 3,321 crore.
Alok Industries and Bombay Rayon Fashions are the two other stressed assets that lender wants to get rid of, according to a document inviting bids uploaded on the lender's website.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Bhushan Power & Steel owes the bank Rs 1,550.07 crore, Alok Industries owes Rs 1,251 crore, Essar Steel India Rs 423.61 crore and Bombay Rayon Fashions has outstanding dues of Rs 96.30 crore, according to the document.
The e-auction of all these accounts will take place on March 20.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The auction will be held through the Swiss challenge method, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002, on the without-recourse basis based on an existing offer of firm bid from an investor, who will have the right to match the highest bid, the bank said.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
