Banks are seeking higher offers for the Sahara Star Hotel’s debt. Union Bank of India leads the process. JC Flowers ARC had previously offered ₹279 crore for the ₹729 crore debt. Banks aim for a minimum bid of ₹293 crore. The hotel is a valuable property with full security for the loans. An auction is expected soon.
Warning Signal? FIIs cut stake in 11 smallcap stocks in the last 3 quarters; prices crash up to 70%
Reliance Power’s shares declined as the Enforcement Directorate filed a chargesheet in a fake bank guarantee case, weighing on investor sentiment and drawing renewed attention