L&T Finance sells Rs 3463 crore NPAs to Phoenix ARC – Economic Times

In the single largest trade in bad loans involving a non-bank lender last fiscal, L&T Finance sells little over Rs 3400 crore from its stressed-assets portfolio to Kotak Mahindra Bank-backed Phoenix ARC Pvt in the last week of March, two people aware of the matter told ET. The sale comes as finance companies are brought …

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