The National Company Law Tribunal on July 20, 2022 initiated an insolvency resolution process against Future Retails following loan default
After transfer of bad loans to the ARC, bank's top boss Prashant Kumar believes the GNPA ratio can fall to under two percent
The transfer of dud loans of over Rs 48,000 crore to the asset reconstruction company (ARC) will happen by November, the lender's chief executive and managing director Prashant Kumar told reporters here.
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The sale of GNPAs would be done through Swiss Challenge method
US-based private equity firm JC Flowers has emerged as the highest bidder for the private lender's proposed asset reconstruction company
This comes after much delay due to an ongoing deal to lay off a large portion of bad loans through an asset reconstruction company (ARC)
Yes Bank had earlier said that the transfer of bad loans to the proposed firm will be done by June
The deal is valued at over Rs 500 crore. According to PTI sources, WL Ross, Sequoia Capital and JC Flowers are in the fray for the acquisition.