The article by Jaimini Bhagwati and M Suheb Khan, “Public sector banks’ tale of debt overhang and ARCs” (May 18) makes for interesting reading. As a former senior executive of a lending institution and having dealt with non-performing assets (NPA) (acquisition and resolution through a corporate entity) for the past decade or so post retirement, I can say that the system of offloading NPAs and acquisition is yet to be streamlined.
Data room is made available for a brief period, that too with limited records. Due diligence calls for greater involvement and vigilance, particularly to determine pricing. That an asset reconstruction
