IDBI Bank to sell Sew Infrastructure’s NPAs by Aug 20


The sale of assets to ARCs, banks, non-banking finance companies and financial institutions will be on ‘as is where is and as is what is basis’ and without recourse basis to IDBI Bank.The sale of belongings to ARCs, banks, non-banking finance firms and monetary establishments will likely be on ‘as is the place is and as is what’s foundation’ and with out recourse foundation to IDBI Financial institution.

IDBI Bank has invited bids from non-banking finance firms, asset reconstruction firms (ARC), banks and monetary establishments to promote non-performing belongings (NPAs) of Sew Infrastructure by August 20. The corporate owes Rs 80.53 crore to IDBI Financial institution and the reserve worth for the NPAs has been set at Rs 25 crore by the lender.

bidders should submit their expressions of curiosity by August 5 and full the due diligence train by August 19. Submission of bids needs to be accomplished by 3 pm on August 20, whereas opening of bids will happen at 5 pm on the identical day. The sale of belongings to ARCs, banks, non-banking finance firms and monetary establishments will likely be on ‘as is the place is and as is what’s foundation’ and with out recourse foundation to IDBI Financial institution.

Hyderabad-based SEW Infrastructure affords providers to civil engineering development initiatives, resembling tunnels, energy transmission, public well being engineering, business buildings, property improvement, dams, barrages, industrial buildings and ports.

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