The government-promoted asset reconstruction company will evaluate accounts of about 300 distressed companies with cumulative loans of Rs 3lakh crore for acquisition this fiscal year, said people aware of the development.
Following a nudge from the finance ministry last fortnight, most government-owned banks identified companies they would prefer to sell to National Asset Reconstruction Company (NARCL), the people cited above said. NARCL will identify about 20-25 accounts from the list for acquisition this fiscal year.
Source:
Economic Times
