NARCL begins process of buying bank NPAs; gives binding offer to IOB on Rainbow Paper
NARCL begins process of buying bank NPAs; gives binding offer to IOB on Rainbow Paper
National Asset Reconstruction Company Limited (NARCL) has started the process of buying Non-Performing Asset (NPA) from banks, Zee Business has learnt through sources. Last week, Indian Oveseas Bank (IOB) received a binding offer from NARCL, Tarun Sharma reported citing his sources.
See Zee Business Live TV Streaming Below:
- The information has also been given to the Ministry of Finance about the asset takeover: Sources
- NARCL has given a binding offer for Rainbow Papers: Source
-NPA account of Rainbow Papers is worth Rs 1136 Cr: Source
- Soon there will be an offer for 3-4 NPA accounts to the banks: Source
- The offer was given after gatherng all legal and financial information about it: Source
- NARCL has to take 15 NPAs from the first 22 properties: Sources
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.