25 Mar 2022 , 12:02 PM
IndusInd bank earlier invited offers for the loan worth Rs142 crore given to Kishore Biyani promoted Future Retail and loan worth Rs105 crore principal loan extended to Asian Hotel Delhi under the 15:85 basis.
Under this structure, the company will be entitled to receive 15% of the consideration upfront, while the remaining 85% company will receive security receipts from the ARC, which would be redeemed as the company recovers dues from the borrowers.
The private lender has sold off these loans soon after another private lender has moved to the Debt Recovery Tribunal against the Future Retail for recovery of its dues.
This transaction with the ARC would imply a haircut of around 20% for the private lender.
IndusInd Bank counter was trading marginally higher so far in the day at Rs927.55 as against its previous close of Rs924.85 on BSE. It touched an intraday high and low of Rs932 and Rs921.20 respectively.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.