Indian Overseas Bank, a financial creditor to Srinagar Banihal Expressway (subsidiary of the company) has assigned their financial assistance granted it, together with all underlying securities, rights, title and interest in respect there of to Asset Reconstruction Company (India) (ARCIL) on October 13, 2021 along with the application filed under Sec.7 of Insolvency and Bankruptcy Code 2016 to National Law Tribunal, Hyderabad Bench against the company for a claim of amount of Rs 236.64 Crore under the Corporate Guarantee, Ramky Infra said in results notes.

KSK Mahanadi has caught the fancy of ARCs who are confident of realising value as the company has a power purchase agreement. Aditya Birla ARC owns 20% of the debt which it purchased from Axis Bank, Bank of Baroda and Punjab National Bank over 18 months. Asset Reconstruction Company of India (Arcil), ASREC (India) Ltd and CFM ARC also have acquired small loans from other lenders. SBI and Union Bank of India’s 27% share in the company's total debt gives them clout in the resolution process. But selling it to ARCs will enable them to report higher earnings in a quarter when loan growth is sluggish.

Private equity firm Bain Capital, in partnership with Asset Reconstruction Company of India (Arcil), emerged as the highest bidder for a Rs 630 Crore distressed loan portfolio of Religare Finvest, offering 30 Paise on a rupee, three people with knowledge of the matter said. Religare Finvest, a non-banking finance company, declared that it would hold a Swiss auction on December 20 to get an improved offer, according to a notice issued on the company’s website. Bain Capital and Arcil have jointly offered Rs 193 Crore in cash for the SME (small and medium enterprises) portfolio to Religare Finvest, the people cited above said.

Mumbai: An Avenue Capital entity has proposed to acquire 44.6% in Asset Reconstruction Company of India (Arcil) from ICICI Bank, Punjab National Bank, IDBI Bank and ICICI Home Finance for a consideration of nearly ₹840 crore, said people aware of the development. Avenue India Resurgent Pte Ltd, a subsidiary of Avenue Capital, which currently holds a 25% stake in the country's oldest asset reconstruction company (ARC), will increase its stake to 69.6% upon acquiring equity from the four..

Asset Reconstruction Company of India Ltd. (Arcil) has acquired 26% equity in NSSL Pvt. Ltd., an unlisted subsidiary of Jayaswal Neco NSE 0.00 % Group, as a part of its broader strategy to revive the distressed company outside of the Insolvency and Bankruptcy Code, people aware of the development said. Avenue Capital-backed Arcil has also provided Rs 90-95 Crore as debt facility for three years against a personal guarantee by the promoters to NSSL and pledging of their shares.