Restaurant Franchise Opportunities

Planning Jun, 27 2014

Leela Group to offload loans

Worth Rs 4,000 crore.

By Franchise India Bureau
Leela Group to offload loans

Lenders of the Leela Group of hotels have decided to offload loans to Asset Reconstruction Companies (ARCs). The bank is planning to offload a loan worth Rs 4,000 crore in a move to reduce pressure from big-ticket bad loans on the lenders' balance sheets.

According to an ARC executive, “The aim was to conclude the process this month, as banks wanted to get the asset off their books in quarter of this financial year. All lenders to the hospitality company had agreed State Bank of India (SBI), one of the lenders would offload loans to ARCs. Lenders to the company include Bank of India, SBI's associate banks and Export and Import Bank of India.

ARCs bid for the loans included JM Financial Asset Reconstruction Company and Edelweiss.

Related: Nepal's CG Corp plans to acquire Indian F&B companies

Click Here to add Comment
Please add your Comment
Sell Business 2017
Sell Franchise 2017


Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.

Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Restaurant India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit