Secretary DFS emphasised the importance of collaboration between lenders and NARCL to expedite the acquisition process. He highlighted the need to address issues arising from inter-creditor differences, including varying security structures, additional collateral, and valuation disputes, which can extend acquisition timelines.
He urged lenders to adhere to decisions taken in Joint Lenders Meetings (JLMs) and stressed that while progress has been made on the resolution front, further efforts are required to recover public funds and strengthen financial discipline in acquired accounts.
The meeting underscored NARCL’s growing role in addressing non-performing assets (NPAs) in India’s banking sector and enhancing recovery mechanisms to safeguard public finances.