Gujarat-based NBFC tops NARCL bid for consolidated construction

16 Nov 2022 CW Team

Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company’s (NARCL) Rs 1 billion offer.

The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger.

Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter’s offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It’s an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns.

Also Read
Godrej Properties set to buy 50-acre parcel at Palghar
Singapore’s GIC, India’s ESR Group set up $600 mn JV

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..