Axis Bank puts ₹511-crore Lavasa Corp debt on sale
Axis Bank is the first creditor off the block to seek buyers for its stuck exposure to the debt-laden Lavasa Corp as other lenders weigh their options in light of the litigation-dogged resolution process.
On Monday, Axis put its ₹ 511 crore claims for sale at a ₹80 crore reserve price on an all-cash basis. The private sector lender which is the fifth largest creditor to the bankrupt private hill city, has called for expressions of interest (EoIs) from asset reconstruction companies (ARCs), non banking finance companies (NBFCs) and other financial institutions to purchase the debt.
On Monday, Axis put its ₹ 511 crore claims for sale at a ₹80 crore reserve price on an all-cash basis. The private sector lender which is the fifth largest creditor to the bankrupt private hill city, has called for expressions of interest (EoIs) from asset reconstruction companies (ARCs), non banking finance companies (NBFCs) and other financial institutions to purchase the debt.
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