The bank had set a Rs 821 crore reserve price on the HNGIL debt, implying a 48% recovery on the total outstanding amount. Nearly half a dozen asset reconstruction companies (ARCs), including Edelweiss ARC and Phoenix ARC, submitted expressions of interest, as reported by ET on February 4. But none of them submitted a bid at the auction held on Thursday, said people with knowledge of the matter.
The bank had set a Rs 821 crore reserve price on the HNGIL debt, implying a 48% recovery on the total outstanding amount. Nearly half a dozen asset reconstruction companies (ARCs), including Edelweiss ARC and Phoenix ARC, submitted expressions of interest, as reported by ET on February 4. But none of them submitted a bid at the auction held on Thursday, said people with knowledge of the matter.
CCI has now given a clean chit to INSCO on February 13 through an order dated February 6, 2024, dismissing the allegations leveled by AGI Greenpac against it.
Kotak Mahindra Bank-backed Phoenix ARC and Edelweiss Asset Reconstruction Company are interested in acquiring State Bank of India s loan to Hindusthan National Glass (HNG). Prudent ARC, UV ARC, and Omkara ARC have also submitted expressions of interest. HNG, the largest glass bottle maker, was admitted for insolvency on a petition by DBS Bank. HNG has received resolution plans from AGI Greenpac and Madhvani Group.
Hotelier Roni Madhvani on religious tourism in India; infrastructure, facilities and hotels in places of pilgrimage in India; and the praycations trend.