Central Bank of India puts Bhushan Power, Essar Steel accounts up for sale: Media report

Alok Industries and Bombay Rayon Fashions are the two other stressed assets that lender wants to sell off.

Mar 05, 2019 03:03 IST India Infoline News Service

Central Bank of India has put up four stressed accounts including those of Bhushan Power & Steel and Essar Steel India to recover dues of Rs3,321cr, a PTI report stated.

In terms of the bank's policy on the sale of financial assets in line with the regulatory guidelines, we place the following accounts for sale to banks/ARCs/NBFCs/FIs, Central Bank of India said in a bids invite document published on its website.

Alok Industries and Bombay Rayon Fashions are the two other stressed assets that lender wants to sell off.

According to the bid document, Bhushan Power & Steel has an outstanding of Rs1,550.07cr towards the bank. Alok Industries owes Rs1,251cr, Essar Steel India Rs423.61cr, and Bombay Rayon Fashions has an outstanding due of Rs96.30cr.

The e-auction of all these accounts will take place on March 20, 2019.

Central Bank of India is currently trading at Rs32.20 up by Rs0.95 or 3.04% from its previous closing of Rs31.25 on the BSE.
The scrip opened at Rs32 and has touched a high and low of Rs32.60 and Rs31.75 respectively. So far 1,85,986 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs9,289.11cr.

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