Bank of Baroda to put 35 NPAs up for sale to recover Rs 4,237-cr dues

Bank of Baroda has proposed to put 35 non-performing assets (NPAs) up for sale including several ailing power assets, to recover dues worth Rs 4,237 crore and has invited expressions of interest from asset reconstruction companies (ARCs) and financial institutions (FIs). Lenders have been known to put on sale exposures to cases headed to the NCLT, or being resolved under IBC for quick cash-based recoveries, in an attempt to avoid delays in resolution and excessive litigation. State-run Dena Bank also invited bids from all eligible ARCs, non-banking financial companies and banks for sale of 84 NPAs with an outstanding principal balance of about Rs 3,323.77 crore, which would be sold through an e-bidding process scheduled for November 29.

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