PNB places three careworn accounts up on the market

Punjab National Bank (PNB) has put up on the market three careworn accounts, with whole excellent dues of practically Rs 34.50 crore.
The accounts are Mangalam Oil Industries with excellent dues of Rs 10.77 crore, Alliance Fibres Ltd (Rs 18.31 crore) and Birsa Institute of Technology (Trust) (Rs 5.41 crore).

The course of is being undertaken by the state-owned financial institution’s Stressed Assets Targeted Resolution Action Division.
“We intend to place three accounts for sale to ARCs/ NBFCs/ other banks/ FIs etc, on the terms and conditions stipulated in the bank’s policy, in line with the regulatory guidelines,” a PNB public sale discover stated.