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The spotlight is on practices where defaulting promoters, under the guise of new investors known as "White Knights," re-enter projects through settlements orchestrated by ARCs. ....
RCap lenders seek upfront Rs 9,650 crore cash payment at the earliest financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
In the case of JAL, State Bank of India has the largest debt hold at 26%, followed by ICICI Bank at 19% and IDBI Bank at 11%. The company has total principal outstanding debt of ₹17,700 crore as of March 2023. ....
ARCs shift focus to retail loans financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Currently, there are three contenders vying to acquire this debt, including Prudent ARC and Asset Reconstruction Company India (ARCIL) other than ACRE ARC with Neo Asset Management. ....