• Rajasthan

    Cong 99
    BJP 73
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 114
    BJP 109
    BSP 2
    OTH 5
  • Chhattisgarh

    Cong 68
    BJP 15
    JCC 7
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

SBI hopes to recover Rs 40,000 crore from stressed assets this year

By: | Published: June 10, 2018 3:24 AM

State Bank of India (SBI) hopes to recover more than Rs 40,000 crore from its stressed assets this fiscal, of which the Insolvency and Bankruptcy code will help it recover around Rs 25,000-Rs 30,000 crore, Pallav Mahapatra, SBI’s deputy managing director (stressed assets Resolution Group) said.

Sebi, securities, ARC, asset reconstruction companies, Reforms pushSo far, only two cases have been resolved.

State Bank of India (SBI) hopes to recover more than Rs 40,000 crore from its stressed assets this fiscal, of which the Insolvency and Bankruptcy code will help it recover around Rs 25,000-Rs 30,000 crore, Pallav Mahapatra, SBI’s deputy managing director (stressed assets Resolution Group) said.

Under IBC, the lender’s exposure in the first list of stressed accounts, as referred by the Reserve Bank of India, was Rs 48,000 crore and for the second list, the exposure was to the tune of Rs 28,000 crore, Mahapatra said on the sidelines of an interactive session organised by the CII.

So far, only two cases have been resolved. “In case of Bhushan Steel, we have got Rs 8,500 crore with a 30% haircut of our total claim of around Rs 11,500 crore. For the other case, Electrosteel Steels, the money has been deposited to escrow account.”

However, he did not want to disclose the amount deposited in the escrow account until the court gave clearance.

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