State-owned () has put up for sale NPA account Apollo Distilleries End Breweries has an outstanding debt of about Rs 44 crore against the company. Inviting asset reconstruction companies (ARCs) to make their bid to transfer the loan account of Apollo Distilleries and Breweries, the city-based lender said it will expedite the due diligence process and process the documents for verification of the potential buyer. Will provide at one place.

However, PNB said that it would be at its discretion to withdraw the account offered for transfer without assigning any reason.

The last date for submission of expression of interest is August 31, 2022, while the due diligence is to be completed by September 7, the lender said.

The tentative date for e-bidding to be held on 100% cash basis is September 12.

A Chennai based subsidiary Amp Distilleries Limited (EDL), Apollo Distilleries and Breweries (ADPL) owns and operates a distillery plant in Tamil Nadu with an installed capacity of 50,000 kilo liters per annum.

EDL resolution is in process Insolvency and Bankruptcy Code (IBC). NCLT Chennai On January 20, 2020, the bench approved the resolution plan submitted by one of the resolution applicants.