Bank Name : Punjab National Bank
Job Title : TRANSFER OF FINANCIAL ASSETS TO ARCs/PERMITTED TRANSFEREES THROUGH SWISS CHALLENGE METHOD.
Stressed Assets Targeted Resolution Action (SASTRA) Division,Corporate Office :
The User ID & Password for bidding on E-auction Portal will be given to theprospective bidder, who have submitted EOI along with NDA & acceptedTerms & Conditions of Technical Bid.
On a pre-decided date & time, e-auction will be conducted on PNB‟s E-auctionPortal at bid price mentioned in table given above.
In the E-bidding process, Swiss Challenge method will be followed since wehave Base Bid/Anchor Bid in hand, who will have the right to match thehighest bid.
If no counter bid crosses the minimum mark-up specified in the invitation, thebase-bid becomes the winning bid. If counter bid(s) cross the minimum markup specified in the invitation, the highest counter bid becomes the challengerbid. The prospective buyer who provided the base-bid is then invited to matchthe challenger bid. If the prospective buyer who provided the base-bid eithermatches the challenger bid or bids higher than the challenger bid, such bidshall become the winning bid; else, the challenger bid shall be the winning bid
The name of Winner will be placed for approval of Bank‟s Competent Committee.
The Time Schedule for completion of the sale process is given below,which may be kindly be adhered to, as no further extension will be made in the schedule:
Submission of EOI in the showcase account and Nondisclosure Agreement (if not already executed) : 21.08.2023
Completion of Due Diligence Exercise : 28.08.2023
Submission of acceptance of Technical Terms & Conditions of the Bids/ Submission of names of authorized officials by ARCto participate in e-auction. : 28.08.2023
Date of issuing user id & password for e-auction on PNB auction portal to those who have submitted EOI & accepted Technical Terms & Conditions of technical Bid to SASTRA HO along with names of authorized officials of ARC who will participate in e- Auction : 29.08.2023
Tentative Date of e-bidding : 30.08.2023
About Us :
Punjab National Bank (PNB), India’s first Swadeshi Bank, commenced its operations on April 12, 1895 from Lahore, with an authorized capital of ? 2 lac and working capital of ? 20,000. The Bank was established by the spirit of nationalism and was the first bank purely managed by Indians with Indian Capital. During the long history of the Bank, 9 banks have been merged/ amalgamated with PNB.