SBI, PNB Put 15 NPAs Worth Rs 1,063 Crore For Sale

Leading public sector lenders State Bank of India and Punjab National Bank have put their 15 non-performing assets worth Rs 1,063 crore for sale. Both the banks said they will conduct the e-auction on 20th of this month.

SBI has put up a total of 12 accounts with total outstanding of Rs 848.54 crore for sale.

“...we place these accounts for sale to asset reconstruction companies (ARCs)/banks/NBFCs/financial intuitions,” said SBI, the country's largest bank.

Of these accounts, Surat based Garden Silk Mills has the highest outstanding of Rs 225.06 crore, followed by Korba West Power Company (Gurgaon) Rs 124.78 crore, Modern Steels (Chandigarh) Rs 122.61 crore and SNS Starch (Secunderabad) Rs 66.87 crore.

Also Read: RBI Allows PNB To Spread Losses Over Four Quarters

Rest NPA accounts include Leitwind Shriram Manufacturing Pvt Ltd. (Rs 64.95 crore), Unijules Life Sciences (Rs 59.25 crore), Scania Steels & Power (Rs 42.42 crore), KSM Spinning Mills (Rs 40.42 crore), Modern Dairies (Rs 39.93 crore), Asmita Papers (Rs 37.23 crore), Forel Labs (Rs 22.86 crore) and Jaipur Metal & Electricals (Rs 2.16 crore).

The second largest public sector lender PNB will offer three NPA accounts with total outstanding of Rs 214.45 crore for sale to ARCs/NBFCs/banks or other financial institutions.

The three accounts are Shree Sidhbali Ispat Ltd. (Meerut) with non-performing loans of (Rs 165.30 crore), Sri Guruprabha Power Ltd. (Chennai) Rs 31.52 crore and Dharamnath Investment (Mumbai) Rs 17.63 crore.

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