HDFC Bank has signed an agreement on 28 March 2022 for investment in India Debt Resolution Company (IDRCL) by way of subscription to equity securities. The Bank will invest Rs 7.50 crore for acquisition of up to 15% stake in IDRCL.
IDRCL has been incorporated on 03 September 2021 with the objective to carry on the business as a debt management company and to do all kinds of debt management, operational management and consultancy services in relation to debt resolution for an asset reconstruction company or investment trust or any other portfolio of securities.
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