ARC

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

Days ahead of the deadline to submit binding bids, LIC's move to sell its Rs 3,400 crore secured principal debt of cash-strapped Reliance Capital Ltd (RCL) to an asset reconstruction company (ARC) has irked its lenders and bidders. The last date for submitting binding bids for Reliance Capital Ltd (RCL) and its subsidiaries is November 28. LIC is conducting a Swiss Challenge process to invite bids from Asset Reconstruction Companies (ARCs) to sell its exposure in RCL, sources said, adding prospective bidders will be asked to better the offer. However, the sources said, Asset Care and Reconstruction Enterprise will have the first right to match the counteroffer. The last date to submit the bids is November 25, while the deadline for submission of binding bids for RCL is November 28. According to the sources, the Committee of Creditors (CoC) of RCL are upset as to why LIC has initiated a parallel process to sell its debt so close to the bids submission deadline. LIC is a member of

Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth

RBI allows ARCs to bid for assets in IBC cases

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

There is no way that lenders can bypass established regulatory norms including the step of inviting counter bids under Swiss challenge method, they said

YES Bank's gross NPAs stood at 13.4 per cent at the end of June. The gross figures stood at Rs 27,747 crore. In June 2021, the NPAs stood at 15.6 per cent

SBI has sold the non-performing loan account of KSK Mahanadi Power Company to Aditya Birla ARC for Rs 1,622 crore, accepting a haircut of almost 58 per cent against the total outstanding. KSK Mahanadi Power Company had total loan outstanding of Rs 3,815.04 crore towards State Bank of India (SBI) as of April 2022. "SBI initiated open offer e-auction towards sale of fund based exposure of KSK Mahanadi Power Co. Ltd on 100 per cent cash basis on April 20, 2022 for a reserve price of Rs 1,544.08 crore," SBI said in a regualtory filing on Thursday. The state-owned lender had received a total of 15 expression of interests (EoIs), while only one bid was received from Aditya Birla ARC for an amount of Rs 1,544.08 crore in an auction in end-May. In a Swiss challenge auction process in June, the lender said it received no competing bids and based on subsequent discussions, Aditya Birla ARC improved the offer to Rs 1,622 crore. SBI said the sale concluded on August 12, 2022 after getting ...

RIL was the lone bidder for the company with a Rs 825-crore offer as against the dues of Rs 2,100 crore of banks

JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank

The private sector lender is planning to set up an asset reconstruction company to transfer its entire stressed pool of loans of Rs 50,000 crore so that its nonperforming assets become zero

The Rajasthan Police had on Sunday arrested Chaudhuri in Delhi in connection with an alleged loan scam.

All lenders including banks must make a list of non-performing assets which they intend to sell to eligible entities including ARCs at the start of each year: Report

Based on the financial profile (including profit levels), banks could look at offloading SRs in the market within five years

Banks identify assets to be moved, but rules need to be framed first: Officials