SBI to sell Anamika Conductors' bad loan account to recover Rs 102 crore

Country's largest lender SBI will sell non-performing loan account of Anamika Conductors through e-bidding in late September to recover dues of Rs 102 crore.

Anamika Conductors has an outstanding of Rs 102.30 crore. SBI has put the reserve price for the e-auction, scheduled to be held on September 28, 2022, at Rs 22.13 crore.

SBI said in terms of its policy on transfer of stressed loan exposures, it is placing the loan account of Anamika Conductors for transfer to eligible ARCs/banks/NBFC/FIs.

The bank, however, said it reserves the right not to go ahead with the proposed transaction or modify any terms and conditions at any stage, without assigning any reason.

Founded in 1988, Anamika Conductors is a Jaipur-based company engaged in manufacturing of aluminium conductor wire, aluminium alloy conductors and power cables.

It also has presence in wind energy production with mills situated in Rajasthan and Maharashtra.