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According to banking sources, work is progressing on multiple fronts to ensure that the bad bank starts operations as soon as possible. On Wednesday, bankers met to finalise the capital structure of the bad bank (NARCL). Sources said that the company would need at least Rs 6,000-crore capital of equity and debt to start operations.
Read more about Lenders terminate bankruptcy proceedings against Lavasa Corporation on Business Standard. Lenders who have run up Rs 7,700 cr bad loans will call for fresh bids
Read more about Top headlines: OMCs pay high excise; CoalMin aims for asset monetisation on Business Standard. Lavasa Corporation bankruptcy proceedings terminated by lenders to Corporate profits to GDP ratio at 10 years high. Top news this morning.
Read more about M&A deals move into slow lane as investors worry about Covid fallout on Business Standard. Bankers say sale of Lavasa Corp, currently under bankruptcy, and RCap and Reliance Naval deals will be delayed, as bidders are re-thinking plans