Standard Chartered PLC (LSE:STAN) has sold two stressed loan accounts - Hindusthan National Glass & Industries Limited (BSE:515145) and Chenani Nashri Tollways - to UV Asset Reconstruction Company Limited and Deutsche Bank Aktiengesellschaft (XTRA:DBK), respectively, as part of a broader programme to tidy up its books, people aware of the development told ET. The bank sold a $40-million (equivalent to about INR 3.10 billion) debt exposure in the tollways project, promoted by the IL&FS Group, to Deutsche Bank, the people cited above said. The principal debt outstanding for the Kolkata-based Hindusthan National Glass (HNG) account was INR 0.59 billion.

Recovery on the HNG loan was about 40-45%, while that on the road project was around 75-80%. Standard Chartered India operations sold both loans for an upfront payment in cash. Standard Chartered Bank and Deutsche Bank declined to comment.

UV ARC did not respond to ET's queries.