State-run Punjab & Sind Bank has actually taken the initial steps to recuperate bad loans through a sale in secondary markets and signed up with other loan providers like State Bank of India and Bank of India as it places on the block loans of KSK Mahanadi and KSK Water Infrastructure. The loan provider is seeking to recuperate over 50% from the sale. The bank has actually welcomed quotes for a loan of 110 crore for KSK Mahanadi and 45 crore for KSK Water Infrastructure, setting a reserve cost of 60 crore and 23 crore, respectively, on an all-cash basis. Interested purchasers have up until August 25 to send expressions of interest (EOIs) and up until September 11 to send binding quotes, as pointed out in a site notification. The choice to offer financial obligation from KSK Mahanadi Power comes as the in-court resolution procedure is postponed for more than 2 years. The business’s overall confessed claims stand at 32,410 crore. Just recently, the Hyderabad bench of the NCLT extended the timeline for getting EOIs for KSK Water from the Consortium of PFC, REC, and NTPC for 2 months from the date of the order released on June 8, 2023. For KSK Mahanadi, potential resolution candidates such as Adani Power, Jindal Steel
Find out more
