PNB puts up National Steel & Agro Industries for sale to recover Rs 200 crore dues

PNB has put up a Madhya Pradesh-based steel and agriculture company for sale to recover its outstanding of nearly Rs 200 crore.

New Delhi: State-owned Punjab National Bank (PNB) has put up a Madhya Pradesh-based steel and agriculture company for sale to recover its outstanding of nearly Rs 200 crore.

The National Steel and Agro Industries Ltd has a balance outstanding of Rs 199.90 crore to the bank.

"We intend to place the account for sale to ARCs/NBFCs/other banks/FIs, on the terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said in an auction notification.