NARCL acquires Rs 1,000-cr debt of Entertainment City for Rs 711 crore

The National Asset Reconstruction Company has taken over the debt of Entertainment City. Punjab National Bank accepted NARCL’s ₹711-crore offer. This ends a year-long effort by lenders to find a better deal. Entertainment City has outstanding debt of around ₹1,000 crore. NARCL’s bid ensures lenders recover their principal amount.

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