New Delhi: The State Bank of India (SBI) will conduct an e-auction of 11 bad loan accounts on November 7 to recover dues of ₹466.49 crore. The bank said the financial assets were showcased on October 12 and the e-auction will take place on November 7. The major non-performing asset (NPA) accounts to be auctioned include Bhatia Global Trading (BGTL), which has an outstanding of ₹177.02 crore on the bank, Bhatia Coke & Energy Ltd ( ₹104.15 crore), Bhatia Coal Washeries ( ₹12.58 crore) and Asian Natural Resources (India) Ltd ( ₹2.18 crore). Maharastra Steels Pvt Ltd ( ₹40.51 crore), Anshul Steel Ltd ( ₹37.70 crore) and Vidhata Metals ( ₹36.98 crore) are the other accounts to be auctioned. The interested banks/ARCs/ NBFCs/FIs can conduct due diligence of these assets with immediate effect after submitting expression of interest and executing a Non-Disclosure Agreement (NDA) with the bank, SBI said.

Source: Mint October 20, 2019 09:22 UTC