New Delhi, Indian Overseas Bank (IOB) on Sunday said it will sell nine non-performing loans with total outstanding of Rs 13,471.68 crore through e-auction on May 28.
The public sector lender has invited expressions of interest (EOI) by May 13 from asset reconstruction companies (ARCs) and other eligible transferees to participate in the auction process.
IOB said, "Indian Overseas Bank has published the sale notification relating to the sale of 9 NPA loans having total outstanding of Rs 13,471.68 crore in the portfolio through e-auction in 2 lots under the open auction method. It is submitted on the basis of Has been done." a statement.
The first portfolio comprises 46 accounts financed under consortium arrangement, 3 accounts under multiple banking arrangement, remaining 2 accounts being sole banking enterprises.
Additionally, 38 accounts of the portfolio have been formally accepted under the ambit of NCLT. The second portfolio, I said, consists of 41 single banking accounts.
Interested Asset Reconstruction Companies (ARCs) and other eligible transferees are cordially invited to submit Expression of Interest (EOI) by May 13, 2024 to participate in the upcoming e-auction to be held on May 28.
The bank's gross NPA (GNPA) level declined from 11.69 percent as of March 31, 2021, to 3.90 percent as of December 31, 2023.
The public sector lender has invited expressions of interest (EOI) by May 13 from asset reconstruction companies (ARCs) and other eligible transferees to participate in the auction process.
IOB said, "Indian Overseas Bank has published the sale notification relating to the sale of 9 NPA loans having total outstanding of Rs 13,471.68 crore in the portfolio through e-auction in 2 lots under the open auction method. It is submitted on the basis of Has been done." a statement.
The first portfolio comprises 46 accounts financed under consortium arrangement, 3 accounts under multiple banking arrangement, remaining 2 accounts being sole banking enterprises.
Additionally, 38 accounts of the portfolio have been formally accepted under the ambit of NCLT. The second portfolio, I said, consists of 41 single banking accounts.
Interested Asset Reconstruction Companies (ARCs) and other eligible transferees are cordially invited to submit Expression of Interest (EOI) by May 13, 2024 to participate in the upcoming e-auction to be held on May 28.
The bank's gross NPA (GNPA) level declined from 11.69 percent as of March 31, 2021, to 3.90 percent as of December 31, 2023.
