Asset Reconstruction Companies Arcs

Yes Bank assigns Rs 48k cr stressed asset loan portfolio to JC Flowers ARC

Yes Bank has concluded assignment of the Rs 48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company. The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets. "The bank has now concluded assignment of identified stressed loan portfolio of the bank aggregating to up to Rs 48,000 crore as on March 31, 2022 under 15:85 structure, after adjusting recoveries between 1st April 2022 to 30th November 2022," Yes Bank said in a regulatory filing on Saturday.

First NARCL transfer case: Lenders await govt guarantees for SR

The NARCL offered just more than Rs 3,500 crore for debts of over Rs 9,200 crore held by state-owned banks

At the crossroads: How are ARCs to augment their capital to Rs 300 crore?

The asset reconstruction business is in for a big change, but there are doubts if this will lead to better results

LIC's move to sell Reliance Capital's debt to ARC upsets lenders, bidders

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

Best of BS Opinion: Green yields, the routine air pollution crisis & more

Here is the best of Business Standard's opinion pieces for today

Game-changing rules for asset reconstruction companies

The new norms succinctly sum up the RBI's view on how some of the ARCs have been run

YES Bank to transfer Rs 48,000 cr stressed loans to JC Flowers by end Nov

Lender said in July gross NPA ratio would dip below 2% after transfer to asset reconstruction company

BS Number Wise: Asset reconstruction companies need to rebuild

They have been losing business as the IBC process picks up pace

Revised RBI norms to improve governance, bolster ARCs structurally: Crisil

More stringent NOF guidelines could edge out smaller players, lead to consolidation

RBI's revised ARC norms improve governance; may shake up industry

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

MDs, CEOs of ARCs can't have more than 3 terms in office without a cool-off

RBI allows ARCs to bid for assets in IBC cases

NARCL makes offers to acquire Jaypee Infratech debt held by Public Banks

NARCL's Rs 3,570-crore offer for the Rs 9,234 crore debt held by nine public sector lenders has triggered a Swiss challenge auction where it will have the right to match the winning bid and take over

YES Bank to sell all its NPAs to JC Flowers ARC by December: Report

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

NARCL revises CEO Natarajan Sundar's salary to market rates: Report

In a bid to attract experienced talent, the National Asset Reconstruction Co Ltd (NARCL) has increased the total remuneration of its chief executive, Natarajan Sundar to Rs 1.7 crore

News on RBI nod for ARC stake speculative, lacks bonafide sources: YES Bank

YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway

NARCL chairman Pradip Shah quit before RBI nod: State Bank of India

After Shah stepped down, Subrata Biswas, a deputy managing director of SBI and one of the nominee directors of NARCL, was appointed as interim chairman

NARCL to help reduce banking stress, kick-start credit cycle: RBI article

The cross-country evidence suggests that if the logistical and financial challenges are carefully navigated, experiments of centralised bad bank can have more hits than misses: RBI article

SBI puts off KSK Mahanadi Power NPA auction after I-T probe on ARCs

The lender has an exposure of Rs 4,100 crore in the firm and had set a reserve price of Rs 1,423 crore for selling the loan to any ARC, bank, NBFC or a financial institution

Top headlines: Sebi eases delisting norms, NARCL eyes Rs 64,000 cr recovery

S&P sees indications of strong rebound in Indian economy after Q1. Jewellers sell Rs 100 gold online as Indians take to internet buys in Covid. More in top headlines of the day

RBI permits lenders to sell fraud loans to ARCs, paves way for resolution

Legal onus regarding reporting, monitoring, filing of complaints with law enforcement agencies will move to the ARCs post the transfer