New Delhi: Indian Overseas Bank on Sunday said it will sell 92 non-performing loans with an aggregate outstanding of Rs 13,471.68 crore via an e-auction on May 28. The bank invited expressions of interest from asset reconstruction Companies and other eligible transferees by May 13 to participate in the auction process.
“IOB has published sale notification pertains to the sale of 92 NPA loans, collectively amounting to an aggregate Book Outstanding of Rs 13,471.68 crores, offered on portfolio basis in 2 lots through e-auction under the open auction method,” the bank said.
The first portfolio encompasses, 46 accounts financed under consortium arrangements, 3 accounts under Multiple Banking arrangements, with the remaining 2 accounts being sole banking ventures.
Furthermore, 38 accounts within the portfolio are formally admitted under the purview of NCLT. The second portfolio consists of 41 sole banking accounts, it added.