IndoStar Capital Finance has sold a significant portion of its stressed book to Pridhvi Asset Reconstruction and Securitisation Company (PARAS). The sale consists of certain accounts that were tagged in Stage 2, aggregating to dues outstanding of Rs 356.78 crore.
The accounts have been resolved on August 27, 2024 through an ARC sale under the Swiss Challenge method in terms of Master Directions - Reserve Bank of India (Transfer of Loan Exposures) Directions 2021, as amended from time to time.
IndoStar Capital Finance is a non-banking finance company ‘NBFC’ registered with the Reserve Bank of India as a systemically important non-deposit taking company.
