Managing director Jayant Mhaiskar said the company will issue shares to Nagpur-based Ashmi Road Carriers (ARCPL) after approval from shareholders. "We have done our checks with regard to PPIRP and we qualify for the same. Separately, we are also talking to banks to restructure our loans in our operating company, MEP Infrastructure Private Limited (MIPL) by infusing ₹125 crore," he said.
Prudent ARC s binding offer of ₹311 crore has triggered a Swiss challenge auction for the hotel properties with total loans of ₹507 crore. Prudent s offer equates to a recovery of 61% for the housing finance company. HDFC has invited counteroffers from other asset reconstruction companies (ARCs) by June 26, a notice issued by the housing finance company stated.
MEP Infrastructure Developers update on NHAI road project in Maharashtra business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.