 "IFCI to sell NPAs of Amtek Auto, Tilaknagar Industries")
Government-owned finance company IFCI is selling 13 bad loans, with exposure of Rs 875 crore, to make its balance sheet cleaner. The sale includes dues of Amtek Auto (Rs 386 crore) and Tilaknagar Industries (Rs 200 crore).
Amtek Auto’s net loss was Rs 755 crore in the September quarter, from Rs 158 crore in the same quarter a year before. In December, it told the BSE exchange the refinancing of debt approved by lenders under a corrective action plan was pending as some banks were yet to give a nod.
IFCI executives said they were focusing on reducing
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