IDBI Bank puts NPA Amzen Transportation for sale to recover dues

IDBI Bank has invited bids to sell its non-performing account Amzen Transportation Industries for a reserve price of Rs 52 crore. The lender intends to sell its identified non-performing asset on all cash basis to ARCs/banks/NBFCs/FIs in line with the regulatory guidelines and the bank's policy on sale of financial assets, it said in a notification.

Amzen was earlier known as Amtek Railcar Industries. The last date for submission of bids by interested parties is October 29, IDBI Bank said.

"Once the deal is finalized, the assignment deed and other legal formalities will be completed in the shortest possible time as mutually agreed upon," it added.

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