The private lender is seeking buyers for its ₹4,233 crore distressed loan, which comprises corporate loan portfolio of ₹3,091 crore and retail portfolio of ₹1,142 crore.
In July, the private lender selected JC Flowers for the sale of its stressed loans after a consortium of Cerberus Capital and Asset Reconstruction Company of India (ARCIL) withdrew from the bid.
The private lender says it has decided that the JC Flowers ARC will be the base bidder for a proposed sale of an identified stressed loan portfolio of the bank.
