This portfolio put up for sale by Phoenix ARC includes 420 secured retail accounts of Rs 186.9 crore and 560,805 unsecured retail accounts totalling Rs 3,363 crore
After the revision in reserve price, NARCL and Omkara ARC put in binding bids to acquire the portfolio of NPAs, and subsequently, an auction was conducted to determine the winning bidder
To acquire additional 49% stake in JM Financial Credit Solutions
Healthy economic growth and buoyant residential demand across housing segments in the top six cities will lead to 10-12 per cent growth in residential realty demand this financial year
They are 'using innovative ways to structure transactions', says Swaminathan J
The central bank also bans Edelweiss arm ECL Finance from undertaking any structured transactions
Existing investors to infuse up to Rs 1,000 crore equity
The Deputy Governor urged the ARCs to adopt a regulation-plus approach where there is compliance with both the letter of the regulation and its spirit
At present, there are no regulatory mechanisms in place for such funding
The report said the growth in the future would largely be driven by higher acquisitions, though capped by quicker resolutions expected in retail assets
Lenders' reluctance to accept SRs, lengthy negotiations dragging its work, says senior exec
Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source
Recoveries by asset reconstruction companies (ARC) from retail loan portfolios have slowed down to 35 per cent since the launch of the one-time settlement (OTS) scheme in October last year, a domestic rating agency said on Thursday. The ARCs have started following measured steps to ensure realizations, which has slowed down the pace of recovery, and the recovery timelines can have got stretched by three to four quarters, India Ratings and Research said in a report. Recoveries across retail loan, including housing and ones to micro, small and medium enterprises, have seen a drag, coming at 35 per cent of the principal outstanding during June-December 2022 review cycle, the agency said. The rating agency said a change in prescribed norms, which now require an independent advisory committee to examine all settlement of dues with borrowers including retail, SME and MSME loans may be resulting in this and added that as per OTS, all the methods of recoveries shall have to be exhausted ...
ARC says no-compete fees received from Sony should be used to repay local debt
Expected credit loss model for banks; PCA for NBFCs levers to asset sale
The RBI unveiled new regulations in October 2022, which enhanced governance standards and permitted ARCs to act as resolution applicants under the IBC's ambit
We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon
The fund-raising would be conducted through a combination of $640 million (Rs 5,100 crore) in equity shares and $475 million (Rs 3,800 crore) through equity share warrants, YES Bank had said
Priced at Rs 22,999, the ZEB-Juke Bar 9750 soundbar will be available on the e-commerce platform Amazon from November 24
The asset reconstruction business is in for a big change, but there are doubts if this will lead to better results