News

Ahmedabad ARC handed 600 MW Vidarbha Industries Power Ltd for Rs 1,265 cr Ahmedabad-based asset reconstruction company (ARC), CFM, one of the four ARCs that were searched by the Income Tax department in December 2021, has been handed a 600 MW plant of Vidarbha Industries Power Ltd (VIPL), without any challenge from any other bidder, for Rs 1,265 crore, a media report said. The report highlighted that the amount is just Rs 5 crore more than Reliance's OTS (one time settlement) offer price of Rs 1,260 crore.  As per the Swiss Challenge process, the len...
Ahmedabad ARC handed 600 MW Vidarbha Industries Power Ltd for Rs 1,265 cr
Ahmedabad ARC handed 600 MW Vidarbha Industries Power Ltd for Rs 1,265 cr
Source: IANS
22/08/2023 11:01:47 AM
Yes Bank to approve J.C. Flowers as buyer for its $6 billion stressed loan portfolio Indian lender Yes Bank is likely to approve the transfer of stressed assets worth 480 billion rupees ($6 billion) to private equity firm J.C. Flowers at its next board meeting, said a source with direct knowledge. A rival consortium led by private equity firm Cerberus and Asset Reconstruction Company of India withdrew its bid after submitting an expression of interest earlier this year, two sources said. "We evaluated the loan accounts carefully and realised that there were so many...
Yes Bank to approve J.C. Flowers as buyer for its $6 billion stressed loan portfolio
Yes Bank to approve J.C. Flowers as buyer for its $6 billion stressed loan portfolio
Source: Reuters
9/09/2022 5:45:16 PM
Loan defaulter & person connected to defaulter must not be Director in ARC: AIBEA No bank loan defaulter or those connected to a bank loan defaulting company should be a Director in an Asset Reconstruction Company (ARC) and the sharing of loan recovery structure should be changed, suggested All India Bank Employees' Association (AIBEA). In its submission to the Reserve Bank of India (RBI) set up Committee on Functioning of Assets Reconstruction Companies, the AIBEA has stated the above in addition to several other suggestions. The RBI had set up the committee to ...
Loan defaulter & person connected to defaulter must not be Director in ARC: AIBEA
Loan defaulter & person connected to defaulter must not be Director in ARC: AIBEA
Source: IANS
31/05/2021 4:27:41 PM
RBI to constitute committee for review of ARC working The Reserve Bank of India (RBI) has proposed to constitute a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem. The committee would recommend suitable measures for enabling ARCs to meet the growing requirements of the financial sector as cases of non performing assets (NPAs) rise and there is a need to reconstruct such assets. Already a new bad bank has been proposed in this year's Budget towards this...
RBI to constitute committee for review of ARC working
RBI to constitute committee for review of ARC working
Source: IANS
7/04/2021 2:11:23 PM
We would be keen that budget addresses few of the long pending by Aswini Sahoo, Asset Reconstruction Company Ltd Below are Views on We would be keen that budget addresses few of the long pending by Aswini Sahoo - CIO of Arcil (Asset Reconstruction Company (India) Limited) As an ARC, we would be keen that budget addresses few of the long pending issues which helps in the ease of doing business in stressed assets.  The enforcement infrastructure like DRT, NCLT court strength need to be augmented to keep pace with pendency of cases and  expected increase in load. Limitation issues as per ...
We would be keen that budget addresses few of the long pending by Aswini Sahoo, Asset Reconstruction Company Ltd
We would be keen that budget addresses few of the long pending by Aswini Sahoo, Asset Reconstruction Company Ltd
Source: PR Agency
29/01/2021 4:39:26 PM