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LENDERS SEEK RBI NOD TO TRANSFER JAIPRAKASH ASSOCIATES LOAN TO NARCL
The Business Guardian
|May 03, 2024
SBI-led lenders seek RBI approval to transfer JAL’s Rs 18,000 crore debt to NARCL for a Rs 10,000 crore acquisition
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SBI and other lenders have sought RBI approval to shift Jaiprakash Associates’ Rs 18,000 crore debt to NARCL. This would mark NARCL’s biggest debt acquisition from a single company, offering Rs 10,000 crore to lenders pending RBI’s nod. NARCL has made RBI’s approval a prerequisite for acquiring JAL’s loans, as per reports.
JAL is the flagship firm of the Jaypee Group, which is led by Manoj Gaur and operates in cement, hospitality, real estate, fertilisers and construction. In Financial Year 2022-23, NARCL acquired 62 per cent of Jaypee Infratech’s debt, amounting to Rs 9,234 crore, resulting in a 39 per cent recovery for lenders through an uncontested Swiss challenge auction.
Diese Geschichte stammt aus der May 03, 2024-Ausgabe von The Business Guardian.
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