Bank of Maharashtra invites bids for loans of Asian Hotels (North)
In a rare development, Bank of Maharashtra is expecting full recovery of dues from the sale of the loans to a hotel, owned by the Jatia Group. It has set a reserve price of Rs 330 crore against Rs 324 crore dues, the bank said in a note to the asset reconstruction companies last week. Reeling under Covid 19, in December 2020, the company entered a one-time restructuring (OTR) with lenders.
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