NARCL to buy Kurukshetra e-way debt
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Government-backed National Asset Reconstruction Company (NARCL) is set to acquire the ₹1,500 crore debt of Kurukshetra Expressway (KEPL) because no other buyer has offered a better price, said a person familiar with the details. NARCL has offered to buy the "bad loans" of KEPL for ₹345 crore. NARCL is also most likely to complete the acquisition of BLA Power's ₹738-crore debt, as no company has expressed interest to beat the ₹285 crore anchor bid from the "bad loan" aggregator. "Banks are in the process of signing final documents in the KEPL case, while in the case of BLA, too, there was no one who turned up in the Swiss auction. But Friday is the last day for declaration of the successful applicant, which will be announced by the end of business hours," said a person familiar with the details. KEPL failed to repay its bank loans after its toll project on the Rohtak-Bawal section of National Highway 71 in...