Central Bank of India puts four stressed accounts for sale to recover dues
5th Mar 2019

Central Bank of India has put up for sale four stressed accounts, including Bhushan Power & Steel and Essar Steel India, to recover dues of Rs 3,321 crore. Alok Industries and Bombay Rayon Fashions are the two other stressed assets that the Bank wants to get rid-off. In terms of the bank's policy on sale of financial assets in line with the regulatory guidelines, the company has placed these accounts for sale to banks/ARCs/NBFCs/FIs.

Bhushan Power & Steel has an outstanding of Rs 1,550.07 crore towards the bank. Alok Industries owes Rs 1,251 crore, Essar Steel India Rs 423.61 crore, while Bombay Rayon Fashions has an outstanding due of Rs 96.30 crore. The e-auction of all these accounts will take place on March 20.

Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.