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PTC India Financial Services Ltd (PFS) hopes to resolve another ₹500 crore of its bad assets over the next three months, according to Pawan Singh, the company’s newly appointed MD and CEO.
“There are about ₹1,700 crore of stressed assets on our books. Of this, we have already resolved about ₹500 crore in the last 30 days. We hope to resolve another ₹500 crore in the coming three months,” Singh told BusinessLine .
The resolved assets include SKS Power, that has been resolved through a one-time settlement, and Sispara Wind, which has been taken over by an ARC. AnotherARC has taken over the Champa-to-Raigarh rail siding project. The Rajpur Hydro Power project has been resolved through the NCLT route.
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