Arcil

Gandhi is right; NPAs warrant urgent action but banks have no magic wand to cut them

It isn’t easy to address the present bad loan problems of Indian banks since the rot runs deeper, unless the government wakes up to the problem and act with urgency to save the banking sector

Auction a failure? No takers for Juhu's sea-facing Tulip Hotel

Mumbai's sea facing six-acre Tulip Hotel in Juhu has found no takers after it was put on the block last month. The Asset Reconstruction Company (India) Ltd (Arcil), which invited bids from prospective clients in December 2013, had set a reserve price of Rs 1,315 crore and the auction was supposed to be held on Wednesday.<br /><br />

Juhu's Tulip Star up for grabs, auction reserve price starts at Rs 1,315 cr

Mumbai's Tulip Star Hotel (erstwhile Juhu Centaur Hotel) is up for grabs after the owner of the six-acre sea facing property on Juhu Tara Road failed to repay a Rs 235-crore loan.<br /><br />