Phoenix ARC in talks with banks to acquire VVF India loans

The offer, which equates to a recovery of 50% for the state-owned bank, has triggered a Swiss challenge auction which is scheduled for April 30. VVF (India) has borrowings of ₹1,400 crore, according to a credit rating report by Crisil Ltd.

from Banking/Finance-Industry-Economic Times https://ift.tt/nEb4l3x