NEW DELHI: State-owned Punjab National Bank has put on sale six non-performing loans amounting to over Rs 1,000 crore, together with two accounts of Vandana Vidyut and Visa Steel.
Asset reconstruction firms (ARCs), non-banking monetary firms (NBFCs), other banks and monetary establishments can post binding bids until June 26. The bids will be opened on the next day.
"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," stated a notice publish through PNB.
The reserve price for the six non-performing assets (NPAs) has been fastened at Rs 342 crore.
Bhopal-based Vandana Vidyut Steel owes Rs 454.02 crore, while Kolkata situated Visa Steel has an impressive steadiness of Rs 443.76 crore.
The leisure four NPAs - Temptation Foods, Helios Photovoltaic, Cabcom Cables, and Zoom Vallabh Steel - are Delhi founded.
The sale process is to be handled through the stressed assets targeted answer motion (SASTRA) department of the bank. The submission of financial bids will be simplest thru e-auction means, which is able to take place on the portal of the bank, it stated.
Punjab National Bank (PNB), which was hit through an enormous Rs 14,000-crore rip-off allegedly perpetrated through jeweller duo Nirav Modi and Mehul Choksi, has enhanced its restoration mechanism through forming the stressed asset control vertical (SAMV) and Sastra.
It could also be looking to raise Rs 10,000 crore in 2019-20 from sale of non-core assets, rights issue and expected write-backs from two large accounts undergoing insolvency complaints.
For the full fiscal 2018-19, the bank's consolidated net loss was at Rs nine,570.11 crore, as in opposition to a lack of Rs 12,113.36 crore throughout 2017-18.
Its source of revenue throughout the fiscal ended March 2019 rose to Rs 59,514.53 crore in comparison to Rs 57,608.19 crore in preceding yr.
Gross NPAs of the bank stood at Rs 78,472.70 crore at the finish of the monetary yr 2018-19, not up to Rs 86,620.05 crore reported in 2017-18. Net NPAs had been valued at Rs 30,037.66 crore as in opposition to Rs 48,684.29 crore.
The Delhi-headquartered bank had recovered Rs 20,000 crore in 2018-19 as in opposition to Rs nine,666 crore in the previous fiscal.
Asset reconstruction firms (ARCs), non-banking monetary firms (NBFCs), other banks and monetary establishments can post binding bids until June 26. The bids will be opened on the next day.
"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," stated a notice publish through PNB.
The reserve price for the six non-performing assets (NPAs) has been fastened at Rs 342 crore.
Bhopal-based Vandana Vidyut Steel owes Rs 454.02 crore, while Kolkata situated Visa Steel has an impressive steadiness of Rs 443.76 crore.
The leisure four NPAs - Temptation Foods, Helios Photovoltaic, Cabcom Cables, and Zoom Vallabh Steel - are Delhi founded.
The sale process is to be handled through the stressed assets targeted answer motion (SASTRA) department of the bank. The submission of financial bids will be simplest thru e-auction means, which is able to take place on the portal of the bank, it stated.
Punjab National Bank (PNB), which was hit through an enormous Rs 14,000-crore rip-off allegedly perpetrated through jeweller duo Nirav Modi and Mehul Choksi, has enhanced its restoration mechanism through forming the stressed asset control vertical (SAMV) and Sastra.
It could also be looking to raise Rs 10,000 crore in 2019-20 from sale of non-core assets, rights issue and expected write-backs from two large accounts undergoing insolvency complaints.
For the full fiscal 2018-19, the bank's consolidated net loss was at Rs nine,570.11 crore, as in opposition to a lack of Rs 12,113.36 crore throughout 2017-18.
Its source of revenue throughout the fiscal ended March 2019 rose to Rs 59,514.53 crore in comparison to Rs 57,608.19 crore in preceding yr.
Gross NPAs of the bank stood at Rs 78,472.70 crore at the finish of the monetary yr 2018-19, not up to Rs 86,620.05 crore reported in 2017-18. Net NPAs had been valued at Rs 30,037.66 crore as in opposition to Rs 48,684.29 crore.
The Delhi-headquartered bank had recovered Rs 20,000 crore in 2018-19 as in opposition to Rs nine,666 crore in the previous fiscal.
PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore
![PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore]()
Reviewed by Kailash
on
June 16, 2019
Rating:
