ECL Finance puts stressed assets of Rs 2,393.4 crore on the block

March 23 is the last date to submit bids

ECL Finance, the non-banking finance arm of Edelweiss Group, has invited expressions of interest (EoIs) for stressed assets worth Rs 2,393.4 crore. These will be sold to asset reconstruction companies (ARCs). Of the 14 accounts put up for sale by the lender, most are from the real estate sector.

The stressed assets are either non-performing assets or special mention account (SMA) 2-category loans. The sale of assets will be partly in cash and partly in security receipts in the ratio of 15:85.  

SMA 2 accounts are those where repayments have been due for a period between 61 and 90 days.

The last date