“We intend to place the account for sale to ARCs/NBFCs/other banks/financial institutions subject to the terms and conditions laid down in the policy of the bank,” PNB said in an auction notification.
The lender has set a reserve price (on cash basis) at Rs 95 crore for the sale process.
To expedite the process of due diligence exercise for the prospective bidder and for the verification purposes of the buyer, the Bank stated that it will make every effort to bring the copies of the documents at one place.
However, the Bank may, at its sole discretion, withdraw the account offered for sale without assigning any reason thereof.
PNB has fixed December 8 as the last date for completing the due diligence. The last date for submission of binding bids is December 9, while the date for opening of bids has been fixed as December 10, 2021. PTI KPM MR MR