In the case of CCC, bankers were stunned to receive a ₹60 crore bid for a total of ₹2,623 crore outstanding dues, a less than 3% recovery for banks. The NARCL bid even dwarfs the promoter's offer for ₹195 crore, which had envisaged 7.5% recovery for banks. Bankers said the offers for Rainbow Papers and EPC company CCC is between 2% and 8% of the outstanding loans, making it difficult for them to consider.
source https://economictimes.indiatimes.com/industry/banking/finance/banking/narcl-offers-too-low-feel-bankers/articleshow/93355415.cms
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