Burdened by bad loans and a shrinking portfolio, PNB Housing Finance Ltd has counter bids for 663 non-performing assets worth Rs 322 crore as part of a Swiss Challenge, asset reconstruction companies. Banks as well as non-banking finance companies (NBFCs) can also participate in the process, which involves one party making its bid, and others countering it.
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The expressions of interest for the unnamed loan account need to be submitted by Wednesday, and timelines for due diligence can pushed till January 10. The lender has non-performing assets worth Rs 3500 crore.
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