Photo: Preetha.K/MintKolkata: Allahabad Bank has decided to put on sale bad loans worth Rs101 crore of Khaitan Electricals Ltd (KEL), the consumer durables maker battling declining revenues in recent quarters. An senior official of the state-owned bank told PTI that Khaitan Electricals’ NPA is one of the 61 such accounts that have been identified for sale during the December quarter. Mishra said the firm was not aware of the loan sale by Allahabad Bank. As on 30 September, Khaitan Electricals had long-term borrowing of Rs101 crore and Rs246-crore short-term loans, while outstanding due to creditors was about Rs67 crore. The company, in a release, said it also has outstanding loans with State Bank of India, IDBI Bank, Indian Bank, Bank of India and Religare Finvest Ltd.

Source: Mint November 17, 2017 10:52 UTC