NARCL to take over debt of Sri Govindaraja for Rs 270 crore

National Asset Reconstruction Co (NARCL) is poised to acquire the troubled textile company Sri Govindaraja Mills. NARCL's offer of ₹270 crore, representing a 36% recovery for lenders, was unchallenged. This marks NARCL's second successful acquisition of a non-performing asset, following its acquisition of the Bareilly Highways Project last month.