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Piramal Group can get back 75% at least of Rs 600-crore loan

Dated on: Thursday 30th November 2023

The Piramal Group has secured a binding bid from CFM ARC for the sale of Tridhaatu Realty, ensuring a minimum 75% recovery in the structured deal. CFM ARC proposed a ?450 crore payment for the ?600-crore bad loan, employing a 15:85 structure with 15% in cash and the remainder in security receipts, which are quasi debt instruments paid to the lender upon recovery.