India Development News & Foreign Investment Opportunities

Andhra Bank to sell 53 NPAs

Deadline: EoIs by 30 Nov 2018


Deadline: EoIs by 30 Nov 2018


State-owned Andhra Bank has invited bids from asset reconstruction companies (ARCs) to sell 53 non-performing assets to recover Rs.1,552.96 crore.

ARCs must submit expression of interests (EoIs) by 30 November 2018, reported Press Trust of India on Sunday.

The bank’s major accounts include Corporate Power Ltd, Visa Steel Ltd, Tulsyan NEC Ltd and Corporate Ispat Alloys Ltd.

The e-bidding will take place on 3 December while the bank will execute the assignment agreements and fund transfer on or before 10 Dec 2018, according to the report.

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