For recovery of more than Rs 746 crore, state Bank of India (SBI) has put up several non-performing assets for sale this month and next, including a fraudulent account of Syntex BAPL. State Bank Of India It will offer NPAs for sale to banks, non-banking financial firms, asset reconstruction companies (ARCs), and financial institutions (FIs) in the auction to be held on November 4 (NBFCs).

The accounts of Syntex BAPL, Surat Hazira NH 6 Tollway Pvt Ltd with an outstanding of Rs 197.74 crore, with an exposure of Rs 335.54 crore, and Shribhav Polywaves Private Limited (Rs 20.20 crore) will be involved in the auction of NPAs.

SBI said that since Syntex BAPL is a fraudulent account, in this case only ARCs are eligible for e-auction. Bank Guarantee of Rs. 6.10 crores include unpaid amount. 197.74 crores against the company. The company’s business is the manufacture of injection-molded plastic components for the automotive sector.

SBI said the proposed acquisition of these properties should not be funded and supported by the promoters/company/guarantors or any of their related parties.

Three accounts will be put up for e-auction on October 31. VVF India Limitedwhich has an outstanding debt of Rs 154.37 crore; Ashok Magnetics Limited (before AML Steels), which has an outstanding debt of Rs 23.82 crore; And Agarwal’s Polytrade (Rs 15.03 crore).

“SBI reserves the right to proceed with the proposed transaction or modify any of the terms and conditions at any stage without assigning any reason thereof,” the lender said in the bid document.

Inputs from PTI