Edelweiss ARC

Edelweiss Group crisis: The development followed days after the RBI cracked down on the Edelweiss group in May, imposing major business restrictions on two of its subsidiary companies

The company continues to operate in normal course of business and does not see any material impact on the operations of the company and cooperate with authorities, the statement said

Edelweiss Asset Reconstruction Company on Thursday promised full cooperation with authorities investigating the death of noted art director Nitin Desai. The financial services company, which had successfully initiated insolvency proceedings against Desai's company ND Art World just last week, said it is committed to the legal process. "We are committed to fully cooperating with all the relevant authorities. Our commitment to transparency, cooperation, and adherence to the legal process remains steadfast," it said in a statement. The company communication came hours after Deputy Chief Minister Devendra Fadnavis announced a probe into the role of the creditors after ruling BJP's lawmaker Ashish Shelar named EARC and the group's chairman Rashesh Shah. ND's Art World Pvt Ltd had borrowed Rs 185 crore through two loans from ECL Finance, an arm of the Edelweiss Group, in 2016 and 2018, and troubles with repayments started in January 2020. The outstanding dues went up to Rs 252 crore ...

Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth

In a bid to attract experienced talent, the National Asset Reconstruction Co Ltd (NARCL) has increased the total remuneration of its chief executive, Natarajan Sundar to Rs 1.7 crore

With improving business environment, it has pegged recoveries to between Rs 5,000 crore and Rs 6,000 crore in FY23. Its assets under management (AUM) stood at Rs 40,251 crore at the end of March 2022

Its shares were locked in the 5 per cent lower circuit on the BSE on Thursday at Rs 80.20 following reports of the probe

The IL&FS group has made loan and equity investment to the tune of Rs 1,000 crore in Kohinoor for development purposes

The assets under management stood at Rs 41,680 crore

NCLAT has admitted Edelweiss ARC's appeal

Plans to invest Rs 12,000-13,000 crore over the next two-three years

Four private banks, including ICICI Bank, Federal Bank, had sold part of their exposure to Essar group entities to a Edelweiss group entity