Providing an online platform for resolution of non-performing assets, NPAsource.com today said it is aiming at disposal of Rs 20,000 crore worth NPAs over the next two years.

The portal - NPAsource.com - brainchild of Atishya Technologies, an online platform doing value addition to NPAs in public domain, to benefit lenders (banks), borrowers as well as investors.

"Our portal aims to bridge the gap between buyers and sellers of NPAs, and facilitates best deals for its disposal.

Non-performing accounts worth over Rs 5,000 crore have been put on the portal with their updated status so far," Atishya Group CMD Devendra Jain said.

"We aim at disposal of Rs 20,000 crore worth NPA's over the next two years," he said.

The group is in talks with a few banks for hosting their NPAs on the portal.

"We not only host the NPAs on our portal but do value addition to it by updating the status like pendency in BIFR, court cases, and other details, which are not available in public domain," Atishya Technologies Technical Director Akshay Sethia said.

"It helps in fetching better realisation for a NPA, to the banks by introducing transparency and also helps check cartelisation during NPA auctions done by them," Jain claimed.

According to company estimates, the maximum NPAs are in the textiles and steel sectors. And nearly 3-4 per cent of the total borrowings get converted into NPAs.

Quoting figures from RBI, Sethia said total NPAs in India as of March 31, 2011 were in excess of Rs 90,000 crore.

The company plans to invest Rs 10 crore in its portal, and open an office in Dubai by 2012 to tap NPAs in Europe, Middle East and other parts of the world.