Accounts classified as stressed still have inherent value and represent opportunities for asset reconstruction companies (ARCs) and private equity (PE) firms, Finance Minister Arun Jaitley said on Saturday.
“At a meeting with leading ARCs and PE firms focussed on stressed assets, he said accounts classified as impaired/stressed still had inherent value,” the Finance Ministry said in a release. “These were essentially productive assets which if turned around would not only create additional jobs but also contribute to national output. For this to happen, timely interventions, transparent price discovery and right management were required.”
Mr. Jaitley also highlighted the legislative changes aimed at creating a conducive environment for ARCs and PE funds.
