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L&T Finance: L&T Finance sells real estate loans to Phoenix ARC for over Rs 1,000 cr

The portfolio included six real estate accounts sold for ₹1,075 crore, equating to a 60% recovery for L&T Finance, the people said. The finance company invited offers under a 15:85 structure for ten accounts with a total loan of ₹3,022.5 crore, according to a notice issued by the finance company on its website early last month.
United States Andhra Pradesh Mabsoot Buildhomes Asset Reconstruction Company Of India Arcil Nirmal Lifestyle Developers Kotak Mahindra Phoenix Asset Reconstruction Company

Third Party Security: Pledgees Not Financial Creditors - Finance and Banking

Lender” / “ Facility”). In addition to the security provided by the Borrower under the Facility Agreement, Doshion Veolia Water Solutions Private Limited (“ Corporate Debtor”), being the group company of the Borrower, pledged its shareholding (40,160 shares) in Gondwana Engineers Limited (“ GEL”) by executing a pledge agreement in Lenders favour dated 10 th January 2012 (“ Pledge Agreement”). The Corporate Debtor also executed a non-disposal undertaking (“ NDU”) in favour ...
United States Anuj Jain Gondwana Engineers Limited Honble Supreme Court Apex Court Pvt Ltdv Ketulbhai Ramubhai Patel
Source: mondaq.com

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