NTC to start e-auction for B'lore, Indore property

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New Delhi, Oct 17: After a huge profit in e-auctions, National Textile Corporation (NTC) on Sunday, Oct 17 decided to sale two more properties of Bangalore and Indore in another rounds.

The 16.57 acres property of Malwa United Mills in Indore would be put on the block with reserved with Rs 60 crore from Oct 25 to Oct 27.

Another 1.703 acres of Minerva Mills in Bangalore would be put on the block from Nov 15 to Nov 17.

NTC earned more than Rs 2000 crore revenue from the last two trend-setting e-auctions in Jul-Aug 2010.

NTC official stated, "For the first time in the history of Indian PSUs, we held the highly exciting e-auctions in Jul and Aug and went to create history of sorts, from ensuring cent percent transparency to reaping the best prices."

He also added, "We definitely hope to replicate rich gains, though this time the properties are comparatively smaller."

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