NARCL's ₹222.5 crore binding offer had triggered a Swiss Challenge auction which was scheduled on March 17. Lenders did not receive any counter offer for the ₹619-crore creditors' claim that was auctioned last week. The offer from NARCL equates to a 36% recovery, and lenders would receive 15% of consideration as cash and the balance would be security receipts (SR) payable on recovery of loans.source https://economictimes.indiatimes.com/industry/banking/finance/narcl-set-to-acquire-debt-of-dharani-sugars/articleshow/98830058.cms
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