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NARCL offers INR 270 cr for Pink City Expressway, recovery likely at 15%, ET Auto

The offer is the first from NARCL to banks in more than four months and the first since changes in the top management of the bad bank. Former SBI managing director Diwakar Gupta took over as NARCL chairman in early December, months after Karnam Sekar quit in August amid differences over the functioning of the institution. ....

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NARCL offers ₹270 cr for Pink City Expressway, recovery likely at 15%

The government-backed bad loan aggregator, National Asset Reconstruction Co (NARCL), has made a ₹270 crore offer for Pink City Expressway Private Limited (PCEPL), the company which was formed to build, operate and maintain the six-lane Gurugram-Kotputli-Jaipur section of the Delhi-Jaipur highway. PCEPL has ₹1,761 crore of outstanding loans and another ₹30 crore of bank guarantees. The bad bank acquires loans by paying 15% of the amount in cash and the rest in security receipts (SRs), which are to be matched with recovery over time. ....

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Uttarakhand High Court dismisses petitions filed by hydropower companies

Uttarakhand High Court dismisses petitions filed by hydropower companies
According to the case, the Uttar Pradesh government conceptualised the Srinagar Hydro Electric Project in 1981 with a capacity of 330 MW
The Uttarakhand
High Court has dismissed petitions filed by various hydro-power project companies against the Uttarakhand government, upholding the water tax on hydropower generation.
A single-judge bench of Justice Lokpal Singh passed this verdict on Friday (February 12). According to the case, the Uttar Pradesh government conceptualised the Srinagar Hydro Electric Project in 1981 with a capacity of 330 MW. The project development was entrusted to the Irrigation department of the erstwhile UP Government and was planned to be developed with World Bank funds. ....

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