An e-bidding process will be conducted by the country’s largest lender SBI on September 27 to recoup Rs 102 crore from Anamika Conductors for non-performing loans.
The outstanding amount of Anamika Conductors is Rs 102.30 crore. On September 28, 2022, SBI will hold an e-auction with a reserve price of Rs 22.13 crore.
The SBI said it is placing the loan account of Anamika Conductors for transfer to eligible ARCs, banks, NBFCs and financial institutions under its policy on transferring stressed loan exposures.
As long as the bank retains the right to discontinue the proposed transaction or modify any terms and conditions at any stage, it will not give a reason.
The Jaipur-based Anamika Conductors was founded in 1988 and manufactures aluminium conductor wires, aluminum alloy conductors, and power cables. In addition, it has wind farms in Rajasthan and Maharashtra that produce wind energy.