RBI has issued instructions to All Asset Reconstruction Companies in exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank to adopt ‘Fair Practices Code’ so as to ensure transparency and fairness in their operation.
In Indian Express dt 24th April 2019, a news has been flashed as under: “Central Bank of India on Friday put up two non-performing assets (NPAs) worth Rs 251 crore for sale through the Swiss challenge method.” “The auction for Srinagar Banihal Expressway (Rs 200 crore) and Maa Mahamaya Industries (Rs 51 crore) are being…
RBI Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 dated April 28, 2017In exercise of the powers conferred by clause (b) of sub-section (1) of section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies…