To recover dues of Rs 309 crore, SBI puts up for sale two NPAs

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India’s largest public lender the State Bank of India has put up for sale two financial assets to asset reconstruction companies, Non- banking Financial Companies (NBFCs) and other financial institutions to recover dues of more than Rs 309 crore.

SBI

In the expression of invitation for the sale process, the bank said, 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.

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.

(With Agency inputs)

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