SME Times is powered by   
Search News
Just in:   • France, Dassault Aviation contradict Hollande on Rafale's Indian partners  • US sanctions Chinese military for buying Russian weapons  • NDA government dares to take decisions, others don't: Modi on triple tala  • PNB fraud: Mehul Choksi seeks cancellation of NBW over threat to life on TV  • Modi to launch Ayushman Bharat on Sunday 
Last updated: 14 Sep, 2018  

PNB.9.Thmb2.jpg PNB to auction 21 bad loan accounts to recover Rs 1,320 cr

PNB.9.jpg
   Top Stories
» Modi to launch Ayushman Bharat on Sunday
» 'Serbia, Malta, Romania express admiration for India's growth'
» Paryatan Parv celebrations in full swing throughout country
» FICCI, EU body organize clean energy event
» Govt's heavy-handed approach hits exports credit: Chidambaram
SME Times News Bureau | 14 Sep, 2018
State-run Punjab National Bank (PNB) has put 21 non-performing assets (NPAs), or bad loan accounts, on sale to recover over Rs 1,320 crore with the e-bidding auction process slated later this month.

PNB said in a notification earlier this week that its Stressed Assets Targeted Resolution Action (SASTRA) Division has put on sale these 21 accounts which cumulatively owe the bank Rs 1,320.19 crore.

"We intend to place these accounts for sale to ARCs (asset reconstruction companies) /NBFCs (non-banking finance companies)/other banks/FIs (financial institutions) etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said.

A PNB spokesperson said on Thursday that "the submission of financial bids will be only through e-auction which will take place on the bank's portal on September 20."

The bank's NPA accounts up for sale include Moser Baer Solar with outstanding of Rs 233.06 crore, Divine Alloys & Power Co (Rs 200.87 crore), Divine Vidyut (Rs 132.66 crore), Chincholi Sugar & Bio Industries (Rs 114.42 crore), Arshiya Northern FTWZ Ltd Rs (96.70 crore), Birla Surya (Rs 73.58 crore) Shri Saikrupa Sugar & Allied Industries (Rs 63.35 crore) and Raja Forgings & Gears Ltd (Rs 59.73 crore).

Among the other major defaulters listed are Templeton Foods (Rs 53.17 crore), Rathi Ispat (Rs 45.48 crore) and Jain Overseas (Rs 33.41 crore).
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 24 Sep, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(5)
» Letter of Credit - a safe and secure payment mode?(2)
» GeM mission launched to promote MSMEs, start-ups: Prabhu(1)
» Collateral free loans available for MSMEs: Minister(1)
» Govt clarifies on e-way bill requirement for exports consignment(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter