India NPLs
SBI Circulates About INR 963B NPL Portfolio Among ARCs; Future Group, IL&FS, Reliance Communications Part of NPL List
Wed 07/26/2023 09:29 AM
State Bank of India, or SBI, has circulated a list of non-performing loans, or NPLs, totaling around INR 962.785 billion ($11.741 billion) featuring 331 accounts, including Future Group companies, Aircel Ltd., Videocon Group., IL&FS, Jaiprakash Associates, Reliance Communications, Reliance Telecom, and Vidarbha Industries Power Ltd., according to two sources familiar with the matter.
The NPL portfolio being circulated among certain asset reconstruction companies, or ARCs, earlier this week, consists of the bank’s large NPL accounts, the sources said.
The portfolio also includes companies that are undergoing the corporate insolvency resolution process, or CIRP, and liquidation, the sources said. Some NPLs are resolved, but the bank guarantees that are lying on SBI’s books against the accounts are also part of the portfolio on sale, the sources added.
Some large NPL accounts that form part of the 331 accounts are as follows:
SBI did not respond to email and calls requesting comment.
– Dipika Lalwani, Malvika Joshi
The NPL portfolio being circulated among certain asset reconstruction companies, or ARCs, earlier this week, consists of the bank’s large NPL accounts, the sources said.
The portfolio also includes companies that are undergoing the corporate insolvency resolution process, or CIRP, and liquidation, the sources said. Some NPLs are resolved, but the bank guarantees that are lying on SBI’s books against the accounts are also part of the portfolio on sale, the sources added.
Some large NPL accounts that form part of the 331 accounts are as follows:
SBI did not respond to email and calls requesting comment.
– Dipika Lalwani, Malvika Joshi
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