Improved investor interest in a broad range of small and medium enterprises and above-average realisation from the assets of a large company - Srei Group - boosted the recovery last quarter, showed the data. The realisation in the September quarter stood at ₹20,771 crore from about 85 stressed firms.
The cash was distributed as part of the ₹3,180 crore upfront payment promised by the bad bank in its winning bid and was credited to banks on Saturday, four people familiar with the details said.
ATC India: The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations that could end in ATC selling a minimum of 51% in its India unit, ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), to cashing out entirely at an enterprise value of around $1.5-2.0 billion, the people said. I Squared has been competing with Canada’s Brookfield and US infrastructure fund Stonepeak Partners for the stake.
The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations that could end in ATC selling a minimum of 51% in its India unit, ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), to cashing out entirely at an enterprise value of around $1.5-2.0 billion, the people said. I Squared has been competing with Canadas Brookfield and US infrastructure fund Stonepeak Partners for the stake.
The Kolkata bench of the national company law tribunal (NCLT) has approved the Rs14,867.50 crore resolution plan submitted by state-backed National Asset Reconstruction Company (NARCL) for SREI Equipment Finance Ltd (SEFL) and SREI Infrastructure Finance Ltd (SIFL), which are under the corporate insolvency resolution process (CIRP). This is the first acquisition by the government-owned NARCL. The resolution plan of NARCL was approved in February by the committee of creditors (CoC) of these two companies from the SREI group.