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Piramal and Bain join hands for Debt Fund
- September 2, 2016
- Posted by: BiconAdmin
- Categories: Asset Reconstruction, Debt restructuring, Miscellaneous, Scheme for Sustainable Structuring of Stressed Assets
No CommentsPiramal Enterprises an Ajay Piramal flagship company and Bain Capital Credit have signed a memorandum of understanding (MoU) to create a strategic partnership to invest in stressed assets and restructuring situations in India. The cumulative stressed corporate assets, where gross non performing assets (NPAs) of 40 listed banks stand at whooping 5.82 trillion rupees.
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Ambit hopes to get ARC licence soon, plans big splash
- August 5, 2016
- Posted by: BiconAdmin
- Categories: Debt Recovery, Debt restructuring, Miscellaneous
Veteran investment banker Ashok Wadhwa is known for spotting opportunities much before others. However, for his asset reconstruction (ARC) business, he waited for years before finally applying for a licence in March in association with New York-based J C Flower, each having 47.5 per cent holding in the proposed company. Former Citibank veteran Jerry Rao
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Lodha, Piramal to set up ARCs, looking to partner foreign funds
- August 4, 2016
- Posted by: BiconAdmin
- Categories: Debt Recovery, Debt restructuring, Insolvency and Bankruptcy Code 2016, Miscellaneous
In what could just be the beginning of large cash rich groups with a real estate expertise taking over stressed assets, Piramal Group and Lodha Group are looking to set up asset restructuring companies (ARCs), people close to the development said. According to the plan, both the players would invest initial money for the ARCs
