Dena Bank has put on sale its exposures to Alok Industries and Bhushan Power and Steel, worth a total Rs 1,018 crore. The sale will be held through the Swiss challenge method, based on an existing offer the bank has received from an investor. The bank is offering them on a 100% cash basis. Both accounts, part of the Reserve Bank of India\u2019s (RBI) first list of large non-performing assets (NPAs), remain unresolved 18 months since the list was issued amid several rounds of litigation. \u201cDena Bank invites bids from all eligible Asset Reconstruction Companies (ARCs)\/ NBFCs, banks, FIs for sale\/assignment of its Non-Performing Assets (NPAs) subject to applicable regulations issued by Reserve Bank of India (RBI) from time to time. The sale of NPAs comprises of two accounts with a principal balance of about Rs 1,017.82 crore. The above NPAs are being offered for sale on cash basis under Swiss challenge method on as is where is and as is what is basis,\u201d the lender said in a bid document. Dena\u2019s exposure to Alok Industries stands at Rs 615 crore. The Bhushan Power exposure is Rs 403 crore. The National Company Law Tribunal (NCLT) has admitted claims worth Rs 783 crore for Alok Industries and Rs 567 crore. On September 12, Bank of India (BoI) had sought bids for its exposures to the two accounts, which stood at Rs 3,062 crore. Earlier this year, Bank of Baroda (BoB) had sold off its Bhushan Power exposure. Dena Bank is to be amalgamated with BoB and Vijaya Bank over the next few months. So far, a full resolution has been reached only in the cases of Bhushan Steel, Electrosteel Steels and Monnet Ispat & Energy from the first RBI list of 12 accounts. While excessive litigation has delayed the resolution in some accounts, others, such as seven of the 11 large power projects have not achieved resolution because of a lack of consensus among lenders. As a result, banks continue to resort to sales to asset reconstruction companies (ARCs). Dena Bank has already put smaller NPAs worth Rs 5,535 crore on the block so far in Q3FY19. A legal battle for control of Alok Industries and Bhushan Power has played out in different judicial forums. On November 29, the National Company Law Appellate Tribunal (NCLAT) had upheld an NCLT order directing the resolution professional for Alok Industries to reconsider the bid submitted by Reliance Industries and JM Financial ARC for the company. The bidding battle for Bhushan Power between JSW Steel and Tata Steel is being heard by the NCLAT.