Magma Fincorp has received approval for sale of non-performing assets (NPA) of the company in one or more tranches from time to time, up to a maximum total amount of Rs 600 crore. The Management Committee of the Board of Directors of the company, at its meeting held on February 27, 2017 has approved for the same.
Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
