| Description |
Reg office- IDBI Tower, WTC Complex, Cuffe Parade, Mumbai- 400005
CIN No. L65190MH2004GOI148838
Web Notice for Transfer of Stressed Loan Exposures
IDBI Bank Ltd., intends to transfer its identified Non-Performing Loan on all Cash basis
to permitted entities in line with the regulatory guidelines and Bank’s policy on transfer of
stressed loan exposures. However, please note that the transfer will be subject to final
approval by the Competent Authority of the Bank.
1. Brief details of stressed loan exposures showcased:-
Name of the A/c Location GPO as on
March 01, 2024
Reserve Price & Term of
transfer
Prime Impex
Ltd.
NMGKolkata
Rs.33.73 crore Rs.5.25 crore (Rupees five crore
twenty five lakh only) on all cash
basis.
The account is declared as fraud by IDBI Bank, hence as per IDBI Bank’s policy, only ARCs
can participate in bidding process.
2. The transfer is on “as is where is, as is what is”, “whatever there is” and “without
recourse” basis. Bank will not assume any operational, legal or any other type of risks
associated with the Stressed Loan Exposure(s) being transferred to the acquirer and shall
not be liable to be revoked for any breach including antecedent breach of any representation
and warranty. In the event of non-realization of amount out of assets/securities, the Bank
is not liable to refund anything in part or full. Bank reserves right to execute the assignment
deed as per Bank’s format.
3. The permitted entities (as per the RBI Master Direction Transfer on Loan Exposures
dated September 24, 2021 updated on December 28, 2023), may conduct due diligence
after submitting Expression of Interest (EOI) and executing a Non-Disclosure Agreement
(NDA) with the Bank, if not already executed. The EOI along with all the requisite
documents duly stamped & signed in pdf format in electronic form via email at
assignment@idbi.co.in and the physical copies is to be submitted to the General Manager,
NPA Management Group, IDBI Bank Limited, IDBI Tower, 11th Floor- A wing, Cuffe
Parade, Mumbai –400005 as per the timelines in the table under point no.5.
Requisite documents:
a) The profile of the Bidder (promoter/ and promoter group, key managerial personnel,
shareholders and shareholding pattern). However, it shall be the obligation of the
Web Notice for transfer of stressed loan exposures by IDBI Bank
Prime Impex Ltd- FY 2023-24
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Bidders should themselves ensure that they are eligible for buying the exposure.
b) RBI registration Certificate/other Regulatory Authorities Certificate as applicable.
c) Certificate of Latest net-owned Funds/ net worth.
d) Financial Profile of the Bidder (annual reports/ audited financial statements for last
3 years).
e) Copies of certificate of incorporation/ registration and constitutional documents
(MoA, AoA).
f) KYC of the Authorised Signatory. (PAN/Passport for signature proof and Aadhaar
for Address proof)
g) Any other documents as may be required as per regulatory requirement and or by
IDBI Bank.
4. Further details of the account will be sent in the form of PIM (Preliminary Information
Memorandum) on execution of NDA, if not already executed, on the email IDs provided
with the Expression of Interest (EOI). Thereafter, the prospective buyers will be allowed
for due diligence upon submission of authorization letter from the authorized signatory.
5. The tentative timeline schedule for completion of the transfer process is given below,
which may be noted:-
Publication of Advertisement seeking Expression
of Interest (EoI)
April 01, 2024
Last Date and time for submission of EoI by email
assignment@idbi.co.in & physical copy of EoI
along with requisite documents duly stamped &
signed by authorised signatory
April 03, 2024 by 05:00 pm
(IST)
PIM & Process Note (containing full details with
schedule, terms and conditions) to be shared with
the interested parties who have submitted EOI &
executed Non-Disclosure Agreement (NDA)
April 03, 2024 (after 5 pm)
Due Diligence by interested parties (who have
executed NDA)
From April 04, 2024 to April 22,
2024 through physical due
diligence in centrally set-up data
room at Corporate Office from
10:00 am to 6:00 pm.
Interested parties to inform names of Authorized
Official(s) along with their mobile no. & official
email id to enable us to issue passwords & explain
them the procedure to bid through e-auction portal.
April 22, 2024 by 11.00 am.
Allotment of user ID password for e-auction April 22, 2024 by 03.00 pm
Web Notice for transfer of stressed loan exposures by IDBI Bank
Prime Impex Ltd- FY 2023-24
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Bidding through e- auction April 23, 2024 [Time- 3.00 pm to
4.00 pm with unlimited extension
of five (5) minutes.]
Declaration of Highest Bidder (H1) April 23, 2024
Upon declaration of highest bidder/ single bid is received, Bank will put the loan for
Swiss Challenge Bidding Process at a bid price received as Base/ Anchor bid, details
of the price of base/ anchor bid shall be hosted as web notice in Bank’s website
www.idbibank.in Click on Quick links> Notices & Tenders. No further newspaper
advertisement shall be published.
The timelines, as aforesaid, may be changed and/or not to go ahead with the proposed
transfer at any stage without assigning any reason at its exclusive discretion of the
bank. The decision of the Bank in this regard shall be final & binding on all the
participants.
7. It is clarified that IDBI Bank Ltd shall bear no responsibility for non-receipt of EOI/
any other correspondence sent by post/email/courier/fax by the permitted entities or for
non-receipt of documents sent by post/courier.
8. Cut-off da |