United Bank of India

Recovery Department
Head Office

Invitation of Tenders for sale of Non Performing Assets by UNITED BANK OF INDIA

The Bank has decided to sell some of its Non Performing Assets (NPAs) in terms of guidelines issued by
Reserve Bank of India to the eligible purchasers i.e ARC / ASC / Banks /FIs / NBFCs on certain terms and
conditions.

Accordingly, the interested Asset Reconstruction Companies / Asset Securitization Companies / Banks /
Financial Institutions / NBFCs are invited to submit their offer to the Asst General Manager, Recovery
Department, Head Office in a sealed cover.

The following dates are to be noted in this regard. However, changes, if any, in the schedule will be
published in Banks website.

1 Commencement of due diligence exercise 17.02.2014 at United Bank of
India, Recovery Dept, Head
Office, 11
th
Floor, 11 Hemanta
Basu Sarani, Kolkata 700 001
2 Due diligence exercise to be completed by 27.02.2014
3 Last date for offering bid 06.03.2014 by 4.30 P.M
4 Opening of bid 07.03.2014 at 11.00 A.M
5 Further negotiation on bid offer / Interse bidding on 07.03.2014 at 12.20 P.M
6 Banks decision about acceptance of bid tentatively by 15.03.2014

The following modalities are to be observed in this regard.

(i) A Non Disclosure Agreement is to be executed before undertaking the due diligence
exercise.
(ii) Inspection will be allowed on AS IS WHERE IS BASIS
(iii) No queries will be entertained after due diligence exercise is over
(iv) Offers shall be submitted separately account wise / basket by ARCs / ASCs both on cash
basis and security receipt basis, while Banks /FIs / NBFCs are required to submit their offer
on cash basis only. However, offers on cash basis will be preferred.
(v) The sale on cash basis or SR basis shall be without recourse, so that in the event of non
realization of the amount out of secured assets, the Bank is not liable to refund anything in
part or full. Redemption of SRs are to be made within the period as stipulated by Reserve
Bank of India.
(vi) No interest shall be charged by the ARC / ASC on the expenses incurred by them towards
recovery in cases where SRs are issued till redemption of SRs
(vii) Interested parties should submit their offer for purchase of one / more number of assets on
individual / basket basis
(viii) Offers will be evaluated for each asset separately / basket mix as deemed fit by the Bank.
(ix) After opening of the tender in presence of all, the Bank will have the liberty to carry out
further negotiation in respect of the assets, account wise / basket mix.
(x) If there is more than one bidder, there will be interse bidding among the bidders on the
date & time specified above.
(xi) The Bank reserves the right to reject and / or cancel and / or defer / withdraw the sale of
one or more or entire non performing assets now offered for sale without assigning any
reason whatsoever.

The details of the accounts and their profiles can be collected by the interested parties (Companies /
Banks etc) from the Asst General Manager, Recovery Department, United Bank of India, Head Office,
11
th
Floor, 11, Hematha Basu Sarani, Kolkata 700 001. Bids should be submitted within due date
and time in a closed cover addressed to the said Asst General Manager, Recovery Department.
During opening of the bid, representatives of the respective organizations should be present along
with the authority letter. However, bid will be opened on the due date and time irrespective of
whether or not any representative of the interested organization attends the same.


General Manager
(Recovery)