SBI to Auction Two NPA Accounts to Recover Dues of Over Rs.313 Crore

SBI will auction two non-performing accounts (NPAs) next month to recover dues of over Rs.313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs.262.73 crore and GOL Offshore Ltd with Rs.50.75 crore dues.

The reserve price for the auction of BVPL is set at Rs.100.12 crore and for GOL offshore at Rs.51 crore.

SBI has asked interested parties to do the due diligence of these assets with immediate effect, after submitting expressions of interest and executing non-disclosure agreement with the bank.

“We reserve the right not to go ahead with the proposed sale at any stage, without assigning any reason. The decision of the bank in this regard shall be final and binding,” SBI said.

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