NARCL receives four bids for debt takeover of Sion Panvel Tollways in Mumbai
National Asset Reconstruction Co (NARCL) has received four expressions of interest for a second round of bidding to take over the debt of Sion Panvel Tollways linking Mumbai and Pune. The initial three bids were rejected for being undervalued. NARCL aims to recover bad debt and has acquired 18 stressed accounts worth Rs 92,510 crore. Bidders have until July 18 to submit new proposals. BoB Capital Markets is advising creditors on the sale.