SBI puts up for sale two NPA accounts to recover dues of Rs 309 crore

PTI, Jul 12, 2019, 10:55 AM IST

New Delhi: State Bank of India has put up for sale two financial assets to asset reconstruction companies, NBFCs and other financial institutions to recover dues of more than Rs 309 crore.

In terms of bank’s policy for sale of financial assets, the bank is placing Rajashree Sugars and Chemicals and Shree Vaishnavi Ispat for sale to banks/ARCs/NBFCs/FIs, it said in the expression of invitation for the sale process.

Rajashree Sugars and Chemicals has an outstanding of Rs 226.94 crore towards the country’s largest lender while, Shree Vaishnavi of Rs 82.52 crore.

The e-auction of Rajashree will take place on July 22 while that of Shree Vaishnavi on July 29.

The interested Banks/ARCs/ NBFCs/ FIs can conduct due diligence of these assets with immediate effect, SBI said.