Asset Reconstruction

Bank of India picks up 9 per cent in bad bank

The government-owned BoI said in an exchange filing that it has invested Rs 109 crore in NARCL under preferential share issuance.

published on : 22nd March 2022

SBI gets requisite approvals for setting up 'bad bank'

The approvals required for setting up NARCL and IDRCL, including from the RBI, have now been received, lending major SBI said on Friday.

published on : 29th January 2022

Bad bank to buy Rs 50,000 crore NPAs in first phase

The bad bank has two legs — National Asset Reconstruction Company, to identify, aggregate and acquire stressed assets from lenders, and India Debt Resolution Company to handle the debt-resolution.

published on : 29th January 2022

Union Budget 2022-23 unlikely to allocate any fund for bank recapitalisation: ICRA report

ICRA said in a note that the banks will raise capital through internal accruals and fundraising from the market adding that the lenders have the ability to manage.

published on : 13th January 2022

Hyderabad's National Company Law Tribunal pulled up in Viceroy Hotels case

A division bench suspended the orders passed by the NCLT on September 1, 2021. It may be recalled that CFM Asset Re-construction Pvt. Ltd. had submitted a bid for Rs 185 crore for the Viceroy Hotels.

published on : 19th September 2021

Will the bad bank help in resolving our NPA problem?

The biggest issue with the NARCL is that it will be owned largely by public sector banks and have its management drawn mostly from them.

published on : 27th August 2021

IBA moves RBI seeking licence to set up Rs 6,000-crore  National Asset Reconstruction Company 

IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from SBI, as the managing director.

published on : 22nd August 2021

Anil Ambani's R-Naval receives 3 bids

R-Naval has a debt of Rs 11,000 crore and the banks have already provided for 100 per cent of the debt, for the last 8 years.

published on : 17th August 2021

Yes Bank to float asset reconstruction company, invites bids from investors

Ernst & Young said that the prospective investor should have a strong financial capability and should have substantial experience in the distressed asset space.

published on : 11th August 2021