In a Q&A, the MD & CEO of the firm dwells on its business model and the focus on retail assets to drive volume, going forward
Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth
In July, YES Bank signed a binding term sheet with JCF ARC LLC and JC Flowers ARC for a strategic partnership for the sale of identified stressed loans of the bank
IDBI Bank on Wednesday said it has divested its entire stake of over 19 per cent in ARCIL to Avenue India Resurgence Pte. The lender, however, did not disclose the deal value. "...IDBI Bank has sold its entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd. (ARCIL) on May 18, 2022 to Avenue India Resurgence Pte. Ltd," IDBI Bank said in a regulatory filing. With this, the LIC-controlled lender said it ceases to be a sponsor shareholder of ARCIL. Stock of IDBI Bank closed 0.39 per cent down at Rs 38.10 apiece on BSE.
IDBI Bank on Friday said its board has okayed a proposal to divest its entire stake of over 19 per cent in ARCIL
'Banks form the majority of the lenders, and it would appear that they will push through whatever they think is fit for themselves and not necessarily for everybody else, he says
Recovery rates from bad loans have improved after the implementation of the bankruptcy code in 2016
The firm has also started purchasing some assets with Avenue Capital as a co-investor
Will link decision on MD and CEO tenure to plan
The stamp duty was charged at 4.9% of the amount, or Rs 24.94 lakh