NARCL to make binding offers to lenders by March 31, say bankers

NARCL is a public sector entity and will have to follow a competitive bidding process for these assets using the Swiss Challenge method.

National Asset Reconstruction Company — India’s bad bank — will make binding offers in 14 cases to lenders to buy out big-ticket stressed assets before the end of March. Only four/five cases may see transfer before the end of 2021-22 (FY22), said bankers.  
 

“Whether we will have eno­ugh time to push them through is something we will have to see. Lenders are trying if a few accounts can be migrated. Thi­ngs should gather pace from April onwards,” they added.
 

While the non-binding offe­rs have been given by NARCL, financial and legal due diligence are under way. After this, binding offers