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Arcil to acquire bad loans of Rs 2000 cr

ArcilAsset reconstruction company Arcit has acquired bad loans worth Rs741 crore in 2012-13 against about Rs100 crore in 2011-12. The company had bought two-thirds of the assets through cash, and a third by way of security receipts. The company is very positive and optimistic about increasing its business share, says P. Rudran, MD & CEO. “We have been approaching banks with this end in view. It also generally happens that Arcil is the first port of call for NPA resolution and many seller banks call us when they want to sell NPAs and sometimes seek our advice,” he said.The company has set an ambitious target of acquisition of around Rs 2000 crore for the current year and right now, it has about Rs1000 crore. This acquisition in the current year is an all time high in last four years.

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