Mumbai: Andhra Bank is selling its loan exposure to SEL Manufacturing Co. Ltd to asset reconstruction companies (ARCs), a tender on its website showed. This sale is part of the non-performing assets worth Rs3,251 crore offered for sale to ARCs, the tender showed. Andhra Bank has set a reserve price of Rs58 crore for an all-cash loan sale. Both steel companies are in RBI’s first list of 12 cases undergoing insolvency proceedings. Last month, Indian Overseas Bank too sold its exposure in these two steel companies.

Source: Mint January 28, 2018 18:00 UTC