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SGX Nifty was trading at 21.50 points or 0.16 percent higher at 13,775.00 at 7:10 am on Monday, December 28.
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SGX Nifty was trading at 21.50 points or 0.16 percent higher at 13,775.00 at 7:10 am on Monday, December 28. This indicates that Nifty50 and Sensex will also trade higher today. A positive start for its Asian peers shows that the Indian market will open higher.
PNB puts 3 stressed accounts up for sale
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Last Updated: Dec 27, 2020, 11:41 AM IST
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Synopsis
The three accounts are Mangalam Oil Industries with outstanding dues of Rs 10.77 crore, Alliance Fibres Ltd (Rs 18.31 crore) and Birsa Institute of Technology (Trust) (Rs 5.41 crore).
Agencies
NEW DELHI: State-run
Punjab National Bank (PNB) has put up for sale three stressed accounts, including Birsa Institute of Technology (Trust), with total outstanding dues of nearly Rs 34.50 crore. We intend to place three accounts for sale to ARCs/NBFCs/other banks/FIs etc, on the terms and conditions stipulated in the bank s policy, in line with the regulatory guidelines, PNB said in an auction notice.
Punjab National Bank Puts 3 Stressed Accounts Up for Sale, Including Birsa Institute Trust
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State-run Punjab National Bank (PNB) has put up for sale three stressed accounts, including Birsa Institute of Technology (Trust), with total outstanding dues of nearly Rs 34.50 crore. We intend to place three accounts for sale to ARCs/NBFCs/other banks/FIs etc, on the terms and conditions stipulated in the bank s policy, in line with the regulatory guidelines, PNB said in an auction notice.
The three accounts are Mangalam Oil Industries with outstanding dues of Rs 10.77 crore, Alliance Fibres Ltd (Rs 18.31 crore) and Birsa Institute of Technology (Trust) (Rs 5.41 crore). Mangalam Oil Industries and Alliance Fibres are based out of Ahmedabad and the third one is based in Raipur. The sale process is being undertaken by bank s Stressed Assets Targeted Resolution Action (SASTRA) Division.