Lenders Request RBI Clearance for Jaiprakash Associates' Loan Sale to NARCL

03 May 2024 CW Team

Lenders to Jaiprakash Associates have sought clearance from the Reserve Bank of India (RBI) to proceed with the sale of the company's loan to the National Asset Reconstruction Company Limited (NARCL). This move underscores efforts to address non-performing assets (NPAs) in the banking sector and streamline the resolution process for distressed loans.

The request for RBI clearance indicates lenders' commitment to resolving the debt exposure to Jaiprakash Associates through strategic measures such as loan sales to asset reconstruction companies (ARCs). NARCL, as a specialised entity for acquiring and resolving stressed assets, offers a viable solution for lenders to recover their dues and clean up their balance sheets.

The sale of Jaiprakash Associates' loan to NARCL aligns with the government's broader initiative to address the issue of NPAs in the banking system and revitalise the financial sector. It demonstrates stakeholders' willingness to collaborate with regulatory authorities and implement effective mechanisms for resolving distressed assets.

Upon receiving RBI clearance, lenders can proceed with the sale of Jaiprakash Associates' loan to NARCL, facilitating the resolution of the company's debt and paving the way for its restructuring or resolution. This step is expected to contribute to the stabilisation of the banking sector and support economic recovery efforts.

Overall, the lenders' request for RBI clearance to sell Jaiprakash Associates' loan to NARCL reflects proactive measures to address NPAs and strengthen the financial health of banks. It underscores the importance of collaborative efforts between regulators, lenders, and ARCs in resolving stressed assets and restoring confidence in the banking sector.

Infrastructure Transport

19 Sep 2025

Maharashtra Approves Rs 9.31 Bn for Bhandara–Gadchiroli Expressway

The Maharashtra cabinet, chaired by Chief Minister Devendra Fadnavis, has approved the revised design and funding of Rs 9.31 billion for the Bhandara–Gadchiroli controlled access expressway, a project expected to enhance connectivity across Vidarbha.The 94.2 km expressway, to be implemented by the Maharashtra State Road Development Corporation (MSRDC), will cut the Bhandara–Gadchiroli distance by 23 km and reduce travel time to 1.5 hours. Of the sanctioned funds, Rs 5.34 billion has been earmarked for project work and Rs 3.96 billion for interest, with land acquisition to begin shortly.The..

Waaree Energies to Offload 14.66% Stake in Indosolar via OFS

Waaree Energies, promoter of Indosolar, will sell up to 61 lakh equity shares, representing 14.66 per cent of Indosolar’s paid-up capital, through an Offer for Sale (OFS) on stock exchanges. The move is aimed at meeting SEBI’s minimum public shareholding (MPS) norms.The OFS will open for non-retail investors on September 18 (T-day), followed by retail investors on September 19 (T+1 day), through a dedicated trading window. Each share carries a face value of Rs 10.Antique Stock Broking has been appointed as the seller’s broker to manage the transaction, ensuring compliance and transparenc..

Gujarat Adds 6,632 MW Renewable Capacity in 2025

Gujarat has added 6,632 MW of renewable energy capacity between April and August 2025, taking its total installed capacity to 39,275.7 MW.The surge is driven by large-scale solar parks, hybrid solar-wind projects, and enhanced transmission infrastructure, further cementing Gujarat’s position as a renewable energy leader.Officials said the expansion supports the state’s sustainable energy goals while strengthening grid reliability and ensuring long-term energy security.News source: Bharat Aawaz ..