Lenders to SKS Power have signed a deal to sell the company to Agritrade Resources for Rs 2,170 crore. The consortium of lenders led by SBI also includes L&T Financial Services and PTC.

Anshula Kant, MD of State Bank of India, spoke to CNBC-TV18 about the deal. Kant said bankers would get about 41 percent of the SKS exposure and so would have to take a haircut of 59 percent.

"However, the above sale is also subject to a lot of clearances," she said, adding that there are lot of CPs to be complied with. “We will need permissions from state governments, NPCL etc., and we have 90 days’ time for that.”

"Although the bank will still have to make some additional provisioning for SKS Power, it does reduce bank’s NPA by Rs 4200 crore," said Kant.

"In SKS Power, SBI had about 84 percent share in the debt," added Kant.

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