State-owned National Asset Reconstruction Company (NARCL) emerged the frontrunner to acquire non-performing loans of ₹1,773 crore in Bareilly Highways Project from a consortium of lenders after no counterbids were received during a Swiss challenge auction on October 30, sources said.
The ARC had given an anchor bid of ₹300 crore for the loans, translating into a recovery of 17 per cent for the lenders.
Additionally, NARCL has given an anchor bid of ₹1,063 crore to acquire stressed loans of Mumbai Metro One from a consortium of lenders, prompting a Swiss challenge auction scheduled on November 28.
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