SBI, Oriental Bank put stressed a/cs on sale
1.1 -15 TAIWAN
New Delhi: State-owned SBI and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore.
The country’s largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding Rs 4,975 crore.
The bulk of accounts up for sale by SBI are of small and medium enterprises (SMEs) that have dues amounting to Rs 4,667 crore.
OBC wants to sell 13 accounts with a collective outstanding of Rs 764 crore, according to the bid document placed on its website.
TO RECOVER 5,740 CRORE
As many as 281 SME accounts are up for sale by SBI, belonging to those firms that have dues of up to Rs 50 crore.
Also, SBI will sell three accounts — Dennis Steels with an outstanding Rs 259 crore, Shiva Speciality Yarns (Rs 38 crore) and Bansidhar Spinning & Weaving Mills (Rs 12 crore).
Among the major loan accounts invited for sale by OBC are Mittal Corp (Rs 207 crore), Jayaswal Neco Industries (Rs 157 crore), NCS Sugars (Rs 107 crore), Mahalaxmi TMT (Rs 78 crore), Kohinoor Steel (Rs 45 crore), Sova Ispat Alloys (Rs 38 crore), Atlantic Projects (Rs 33 crore) and Sova Ispat Alloys (Mega Projects) (Rs 31 crore).
E-bidding for SBI accounts will take place on February 27. For OBC, the e-bidding is scheduled for February 25.