PNB to auction 21 bad loan accounts to recover Rs 1,320 crore
New Delhi, Sep 13 : State-run Punjab National Bank (PNB) has put 21 non-performing assets (NPAs), or bad loan accounts, on sale to recover over Rs 1,320 crore with the e-bidding auction process slated later this month.
PNB said in a notification earlier this week that its Stressed Assets Targeted Resolution Action (SASTRA) Division has put on sale these 21 accounts which cumulatively owe the bank Rs 1,320.19 crore.
"We intend to place these accounts for sale to ARCs (asset reconstruction companies) /NBFCs (non-banking finance companies)/other banks/FIs (financial institutions) etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said.
A PNB spokesperson said on Thursday that "the submission of financial bids will be only through e-auction which will take place on the bank's portal on September 20."
The bank's NPA accounts up for sale include Moser Baer Solar with outstanding of Rs 233.06 crore, Divine Alloys & Power Co (Rs 200.87 crore), Divine Vidyut (Rs 132.66 crore), Chincholi Sugar & Bio Industries (Rs 114.42 crore), Arshiya Northern FTWZ Ltd Rs (96.70 crore), Birla Surya (Rs 73.58 crore) Shri Saikrupa Sugar & Allied Industries (Rs 63.35 crore) and Raja Forgings & Gears Ltd (Rs 59.73 crore).
Among the other major defaulters listed are Templeton Foods (Rs 53.17 crore), Rathi Ispat (Rs 45.48 crore) and Jain Overseas (Rs 33.41 crore).
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
ISRO successfully conducts second integrated air drop test for Gaganyaan mission
New Delhi (PTI): Space agency ISRO has successfully conducted the second integrated air drop test (IADT-02) for the upcoming Gaganyaan mission at the space station in Andhra Pradesh's Sriharikota.
The system is essential to ensure a safe recovery of the crew module -- the capsule in which astronauts sit during a human flight -- during re-entry and landing.
Union minister Jitendra Singh congratulated the Indian Space Research Organisation (ISRO) for successfully conducting the test.
"Congratulations #ISRO for the successful accomplishment of Second Integrated Air Drop Test (IADT-02) for #Gaganyaan, India's first Human Space flight scheduled next year. The second Integrated Air Drop Test (IADT-02) was successfully conducted at Satish Dhawan Space Station Sriharikota," Singh said in a post on X.
The IADT-02 follows the successful completion of the first IADT, which took place on August 24, 2025, at the Satish Dhawan Space Centre in Sriharikota.
Air drop tests recreate the last leg of a spacecraft's return to Earth. An aircraft or helicopter drops the spacecraft from a height to test various systems under different scenarios.
These are the deployment of the parachute system in case the mission is aborted mid-flight, system performance when one parachute fails to open and the spacecraft's orientation and safety during splashdown etc.
In the IADT-02 test, a simulated crew module, weighing about 5.7 tonnes, was lifted by an Indian Air Force Chinook helicopter to an altitude of about three kilometres and released over a designated drop zone in the sea, near the Sriharikota coast.
In a statement, the ISRO said, "Ten parachutes of four types were deployed in a precise sequence during the descent of the crew module, gradually reducing the velocity for safe touchdown. Subsequently, the simulated crew module was successfully recovered in coordination with the Indian Navy."
