Bank of India has put over Rs 2,400 crore of distressed assets on the block, including the accounts of Jai Balaji, Jyoti Power, Privilege Power and Vandana Vidhyut.
A total of 25 accounts are up for sale, with a number of big-ticket loans in the power sector.
Bank of India faces restrictions on banking activities after the Reserve Bank of India imposed prompt corrective action on it in December following a sharp rise in the lender’s share of bad loans in 2016-17.
One account, Privilege Power & Infrastructure with a loan of Rs 250 crore, will be offered on February 22 and bidding will be conducted using the Swiss challenge method, the bank said.
The remaining 24 accounts amounting to over Rs 2,150 crore, will be offered through the e-auction route on February 26 and it will negotiate only with the highest bidder, the bank said.
Source: Economic Times 