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YES bank selects JC Flower Asset Reconstruction company (ARC)

Published on July 15, 2022
Current Context: YES bank signed a binding term sheet with JCF ARC LLC and JC flower Asset reconstruction private Ltd.( JC Flowers ARC) for the sales of identified stressed loans of the bank.
YES bank selects JC Flower Asset Reconstruction company (ARC)
  • The JC Flower ARC will be the base bidder for the sale of identified stress loans of the bank.
  • The bank proposed to run a transparent bidding process on a Swiss challenge basis for the sale of such a portfolio.
  • On completion of the transaction, it will be India’s largest sale of distressed assets, which will make YES bank have nearly zero non-performing assets (NPA).
  • JC Flower has a presence in India with JC Flowers ARC, a joint venture of Eight capital (India’s distressed investor) and London-based Emso asset management.
  • Static Knowledge:
    • YES bank MD and CEO – Prashant Kumar
    • YES bank headquarters – Mumbai
    • YES bank was formed – in 2004

Question:

Q.1 Private lender YES bank selects which Asset Reconstruction Company for sale of its 48,000 crores worth of stressed assets?
a. JC Flowers ARC
b. Pegasus reconstruction company Ltd.
c. Phoenix ARC Private Ltd.
d. Edelweiss asset reconstruction company Ltd.
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