Kotak Mahindra Bank-backed Phoenix ARC and Edelweiss Asset Reconstruction Company are interested in acquiring State Bank of India s loan to Hindusthan National Glass (HNG). Prudent ARC, UV ARC, and Omkara ARC have also submitted expressions of interest. HNG, the largest glass bottle maker, was admitted for insolvency on a petition by DBS Bank. HNG has received resolution plans from AGI Greenpac and Madhvani Group.
His journey serves as an inspiration, reminding us that with dedication and strategic decisions, one can overcome challenges and achieve remarkable success.
The MCLR-based rates will now range between 8% and 8.75%. The bank revised Benchmark Prime Lending Rate to 14.95% from 14.85%, effective from September 15, 2023.