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

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..