JC Flow­ers Steps on Gas

The Economic Times - - Money & Banking -

KM Ja­yarao, an ICICI Bank vet­eran, bet­ter known for re­struc­tur­ing bad loans, is get­ting a new role. He is tipped to join Am­bit Flow­ers ARC which is a JV be­tween the re­vival artist JC Flow­ers and Am­bit. The or­gan­i­sa­tion of for­mer Gold­man Sachs ex­ec­u­tive is step­ping on the gas in In­dia’s dis­tressed as­set mar­ket. Its joint ven­ture has taken shape and adding Ja­yarao to the team would give a fil­lip to JC Flow­ers in In­dia, which at one stage wanted to buy IFCI when the gov­ern­ment wanted to sell a strate­gic stake in it.

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