To make recovery of about Rs 1,553 crore, state-owned Andhra Bank has invited bids from asset reconstruction companies (ARCs) to sell non-performing assets of more than 50 accounts.The bank has invited expressions of interest (EoIs) from ARCs for the sale of its non-performing assets (NPAs) by November 30, according to the tender document.”Andhra Bank invites EoIs from ARCs for the proposed sale of its NPAs comprising 53 accounts with principal balance of Rs 1,552.96 crore on cash basis only,” the bank said.The state-owned lender said that the bids may be submitted for tranches and/or individual basis.All ARCs that are registered as a securitisation and reconstruction company pursuant to…
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