Janata Bank PLC has issued an auction notice to sell Bangladesh Export Import Company (Beximco) Limited's factories, land, and headquarters in an effort to recover over Tk1,322 crore in defaulted loans, while the government seeks an international leasing agreement to revive the troubled conglomerate's textile operations.
On Tuesday, the bank published advertising in multiple newspapers announcing the sale of Beximco's mortgaged assets to settle outstanding loans, including accrued interest up to October 31.
Bidders are urged to submit their offers by December 10th.
At the same time, Janata Bank has ordered an auction for Asses Fashions Limited's assets in order to recover its outstanding default loan of Tk1,133 crore as on October 31.
According to Janata Bank's auction notice, Beximco's assets for sale are 3,527 decimals of land and factories in Gazipur, 146.65 decimals in Ashulia, and 440 decimals in Narayanganj. The bank has also decided to auction the company's 15-story corporate headquarters, BEL Tower, in Dhanmondi.
This follows another auction notice issued on November 21 for assets belonging to three Beximco Group companies: International Knitwear & Apparel Limited's Unit-1 and Unit-2, valued at Tk1,754.7 crore, Urban Fashions, valued at Tk724.26 crore; and Apollo Apparels, valued at Tk816.4 crore.
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