A group of banks led by Canara Bank had planned for Swiss Challenge Auction of the Indira Container Terminal at the Mumbai Port Authority, in order to collect the unpaid dues by AJR Infra & Tolling Ltd, which amounted to Rs.312 Cr it had taken for the stalled project. But the auction that was announced for a one time settlement of the deal failed to attract any response. The lenders comprise of Canara Bank, Punjab National Bank, Central Bank of India and India Infrastructure Finance Company Ltd.
Through the auction Canara Bank was trying to seek a bid higher than the base amount of Rs.260 Cr offered by AJR Infra & Tolling Ltd in one time full cash settlement of the deal. The starting amount for the bidding was quoted at Rs.273Cr, but it failed to attract any response.
