Transactions worth ₹75,000 crore by 4 ARCs under I-T scanner
These ARCs are being probed for allegedly passing on just about 20% of this amount as recoveries from the non-performing assets they had acquired from banks, said the people.
These ARCs are being probed for allegedly passing on just about 20% of this amount as recoveries from the non-performing assets they had acquired from banks, said the people.
It is estimated that ARCs have bought a total of Rs 6,000 crore of bad loans so far this fiscal from banks.
The Reserve Bank last week increased the net-owned funds for asset reconstruction companies (ARCs) to Rs 100 crore from a meagre Rs 2 crore.