The ARC will use the funds to make cash payments to banks against the purchase of non-performing loans. NARCL offers 15% of consideration as cash payment, and balance 85% is paid in the form of security receipts paid on recovery of loans or at the end of five years or whichever is earlier.
The NARCL has been successful in the acquisition of just six companies since its inception in January 2022 to house banking-sector advances that had converted into bad loans, , NARCL, IDRCL, Bad Banks
The NARCL has concluded the acquisition of just six companies since it started operations in January 2022 to house banking-sector advances that had gone sour. Dharani Sugars and SPML Infra and Parenteral Drugs were acquired by the bad bank in this financial year, following Jaypee Infratech, SSA International and Helios Photovoltaic that were acquired last fiscal.
India s state-owned bad bank, National Asset Reconstruction Company Ltd (NARCL), has acquired three more accounts in the past two weeks, including Dharani Sugars and Chemicals, SPML Infra, and Parenteral Drugs. The finance ministry has urged NARCL to expedite the acquisition process. Differences between NARCL and India Debt Resolution Co Ltd (IDRCL) have caused delays.
The Parenteral Drugs Market Size, Share, Growth Analysis, By Product Type (Insulin, Monoclonal Antibodies, Cytokines, Peptide Hormones and Others), By.