PFS to re­solve Rs 500-cr bad debt

India Business Journal - - PUBLIC SECTOR -

PTC In­dia Fi­nan­cial Ser­vices (PFS) hopes to re­solve an­other Rs 500 crore of its bad as­sets over the next three months, ac­cord­ing to Pawan Singh, the com­pany's newly ap­pointed MD and CEO. "There are about Rs 1,700 crore of stressed as­sets on our books. Of this, we have al­ready re­solved about Rs 500 crore in the last 30 days. We hope to re­solve an­other Rs 500 crore in the com­ing three months," Mr Singh has said. The re­solved as­sets in­clude SKS Power, which has been re­solved through a one-time set­tle­ment, and Sis­para

Wind, which has been taken over by an ARC.

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