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

The merchantability of assets to ARCs, banks, non-banking concern companies and fiscal institutions volition beryllium connected ‘as is wherever is and arsenic is what is basis’ and without recourse ground to IDBI Bank.

IDBI Bank has invited bids from non-banking concern companies, plus reconstruction companies (ARC), banks and fiscal institutions to merchantability non-performing assets (NPAs) of Sew Infrastructure by August 20. The institution owes Rs 80.53 crore to IDBI Bank and the reserve terms for the NPAs has been acceptable astatine Rs 25 crore by the lender.

Interested bidders person to taxable their expressions of involvement by August 5 and implicit the owed diligence workout by August 19. Submission of bids has to beryllium completed by 3 p.m. connected August 20, portion opening of bids volition instrumentality spot astatine 5 p.m. connected the aforesaid day. The merchantability of assets to ARCs, banks, non-banking concern companies and fiscal institutions volition beryllium connected ‘as is wherever is and arsenic is what is basis’ and without recourse ground to IDBI Bank.

Hyderabad-based SEW Infrastructure offers services to civilian engineering operation projects, specified arsenic tunnels, powerfulness transmission, nationalist wellness engineering, commercialized buildings, spot development, dams, barrages, concern structures and ports.