Central Bank of India on Friday put up two non-performing assets (NPAs) worth Rs 251 crore for sale through the Swiss challenge method. The bank\u2019s exposures to Srinagar Banihal Expressway (Rs 200 crore) and Maa Mahamaya Industries (Rs 51 crore) are being offered on a 100% cash basis. The reserve price for Srinagar Banihal Expressway has been set at Rs 146 crore, implying a 27% haircut on the outstanding, while at Rs 34 crore, the reserve price for Maa Mahamaya suggests Central Bank may take a 34% haircut. \u201cThe auction for above account(s) is through \u2018Swiss Challenge Method\u2019, under Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002 on without recourse basis based on an existing offer of firm bid from an investor, who will have the right to match the highest bid,\u201d the lender said in bid documents for both accounts. Ratings agency Icra had downgraded debt instruments worth Rs 1,440 crore for Srinagar Banihal Expressway and worth Rs 455 crore for Maa Mahamaya Industries in 2018. In March, Central Bank had put on the block stressed assets worth Rs 3,322 crore, including its exposure to Essar Steel India with an outstanding balance of Rs 423.61 crore, Bhushan Power & Steel (Rs 1,550.07 crore) and Alok Industries (Rs 1,251.10 crore), to be sold on a full-cash basis to any interested bank, asset reconstruction company (ARC), non-banking financial company or foreign investor. Notably, all three stressed accounts are undergoing corporate insolvency resolution proceedings. Reserve prices for the three assets implied a 2% haircut in the Essar Steel account, 54% in Bhushan Power and 84% in Alok Industries. The lender had also put on sale its exposure to Bombay Rayon Fashions, a majority of whose debt is now owned by JM Financial ARC. Central Bank is one of the five banks who continue to remain under the Reserve Bank of India\u2019s (RBI) prompt corrective action (PCA) framework. The bank expects to close the year with a nominal profit in Q4FY19 and turn a full-year profit in FY20, according to managing director and CEO Pallav Mohapatra.