Business & Investment

Indian Bank to sell shares in ASREC

The bank holds a 38.26% stake in ASREC (India) and the decision to sell the stake is part of the monetization of the bank’s non-core assets.

Chennai-based public sector lenders board of directors Indian Bank On Friday, in principle, the partial or complete withdrawal of shares in ASREC (India) Ltd’s banks was approved.

The bank holds a 38.26% stake in ASREC (India) and the decision to sell the stake is part of the monetization of the bank’s non-core assets.

Indian Bank, LIC of India, Bank of India, Union Bank of India And Deutsche Bank are other shareholders of the company.

ASREC (India), a public limited company established under the Companies Act of 1956, has been conducting activities based on the securitization and reconstruction of financial assets and the enforcement of the Security Interest Act from the Reserve Bank of India on October 11, 2004. I have been given a registration certificate to do so. ..

The company obtains Toxic Assets (NPA) from banks and financial institutions at mutually agreed prices with the goal of maximizing profits through innovative solution strategies.

ASREC, as a multi-rendered ARC in the public sector, aims to gain the trust of the financial system in the effective resolution of NPA by operating in a flexible and transparent way in the private sector. We have established a position.

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Indian Bank to sell shares in ASREC

https://www.financialexpress.com/industry/banking-finance/indian-bank-to-divest-asrec-stake/2207242/ Indian Bank to sell shares in ASREC

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