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The State Bank of India (SBI) has sorted the number of non-performing assets available for sale this month and next to recover. ₹746 crore
Sintex BAPL’s outstanding accounts ₹197.74 crore, Surat Hazira NH6 Tollway Pvt Ltd from the disclosure of ₹335.54 Rs. Rupees and Shreebhav Polyweaves Pvt Ltd ( ₹20.20 crores) will be included in the NPA auction.
SBI to auction NPA for asset recovery company (ARC)/financial institutions (FIs), banks or non-bank financial companies (NBFC). The auction is scheduled for November 4.
SBI has said that for Sintex BAPL, only ARC is eligible for electronic auctions because it is a fraudulent account.
bank guarantee of ₹6.10 crore included in the outstanding ₹Rs. 197.74 crore The Company’s business is the manufacture of injection molded plastic parts for the automotive industry.
SBI said that these asset offerings should not be funded and supported by sponsors/companies/guarantors. or any related person
At the end of this month on October 31 there will be an electronic auction of 3 accounts VVF India Ltd with outstanding loan balance of ₹154.37 crore; Ashok Magnetics Ltd (formerly AML Steels) ₹23.82 Rs. Rupees and Agarwalas Polytrade ( ₹15.03 crore)
“SBI reserves the right not to continue the proposed transaction or amend any terms and conditions at any stage without giving any reason,” the lender said in the auction documents.
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