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SBI to auction 5 steel NPAs on March 26

Steel News - Published on Wed, 13 Mar 2019

Image Source: DNA India
ET reported that State Bank of India as put on sale six non-performing accounts worth INR 2,337.88 crore, which will be auctioned on March 26. The accounts include Indian Steel Corporation (outstanding debt INR 928.88 crore), Jai Balaji Industries (INR 859.33 crore), Mittal Corp (INR 116.34 crore), MCL Global Steel (Rs 100.18 crore), Shree Vaishnav Ispat (INR 82.52 crore).

The lender said except Mittal Corp and Shree Vaishnav; the auctions are under the Swiss Challenge method and will be conducted on March 26.

The bank is looking to sell all the accounts on a 100 percent cash basis to banks, ARCs, NBFCs and other financial institutions

Source :

Posted By : Rabi Wangkhem on Wed, 13 Mar 2019
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