Industry

May resolve ₹8,000 crore NPAs: IFCI

State-owned IFCI has intensified its recovery process and expects resolution of several NPA cases worth ₹8,000 crore during the course of the year, according to a top company official.

Earlier this year, IFCI saw recovery from resolution of various loan default cases, including Bhushan Steel, Monnet Ispat, Oswal Foods, Blue Coast Hotels and Rama Industries.

“From April 1, 2018, till date, we have recovered about ₹503 crore from the resolution or One Time Settlement (OTS) of debt. Over and above this, we have recovered approximately ₹160 crore from the sale/buyback of unquoted equity,” IFCI executive director V. S. V. Rao told PTI.

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Printable version | Apr 5, 2020 5:38:50 PM | https://www.thehindu.com/business/Industry/may-resolve-8000-crore-npas-ifci/article24962118.ece

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