Live Breaking News & Updates on Simplex Infrastructure|Page 3

Stay updated with breaking news from Simplex infrastructure. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

NARCL makes binding offers for over half a dozen accounts: Sources

NARCL is set to acquire loans of Simplex Infra following an uncontested Swiss auction. The state-backed bad bank has made a binding offer of ?640 crore for debt-laden engineering, procurement, and construction company Simplex Infrastructure, which is less than 7% in recovery to lenders. Simplex owes lenders, led by Punjab National Bank (PNB), a total of Rs 9,600 crore and is one of the largest accounts to be referred to bankruptcy courts in recent times. NARCL is preparing to acquire the loan in cash and security receipts (SRs). ....

Rohtak Panipat , Punjab National Bank , National Asset Reconstruction Co , Sadbhav Engineering , Hissar Tollway , Haridwar Highways , Simplex Infra , Simplex Infrastructure , Swiss Challenge , Haridwar Highways Project ,