Barely about four months of the launch of web portal, npasource.com, Ahmedabad-based Atishya Technologies claims to have brought non-performing assets (NPAs) of the banks worth Rs 1,000 crores for resolutions.
According to company officials, more than 5,000 NPA accounts worth over Rs 5,000 crore have been put up on the portal during the four months of its operation. " The portal is designed to facilitate the best deals for disposal of NPAs by updating all the details of available assets in the Indian market. We plan to resolve Rs 20,000 crore plus NPAs over the next two years," said Devendra Jain, CMD of Atishya Group.
NPAs in the range of Rs 1 crore to Rs 150 crore are listed on the portal. From March 2012 onwards the company intends to expand its operations to Middle East and Europe to cater to the NPAs of these regions.
"We are opening an office at Dubai, which will be operational by March 2012. This will help us bring foreign investors interested in acquiring impaired assets in India for themselves or for their clients world-wide," said Jain.
The company gets applications for registrations from various stakeholders like chartered accountants, consultants, advocates and property dealers apart from companies of all sizes.