Tuesday, August 14, 2012

Asset recast firms to be allowed to convert bad loans into equity

The government is set to allow Asset Reconstruction Companies (ARCs), such as
Arcil, Pegasus and Reliance ARC, to convert the bad loans they acquire from banks into equity in
the debtor company in a move aimed at making corporate turnaround an easier and remunerative
business in the wake of slowing economic growth.

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