NARCL set to acquire debt of Dharani Sugars

NARCL's ₹222.5 crore binding offer had triggered a Swiss Challenge auction which was scheduled on March 17. Lenders did not receive any counter offer for the ₹619-crore creditors' claim that was auctioned last week. The offer from NARCL equates to a 36% recovery, and lenders would receive 15% of consideration as cash and the balance would be security receipts (SR) payable on recovery of loans.

from Banking/Finance-Industry-Economic Times https://ift.tt/tIRgr0W