India: JM Financial ARC offers to buy out SBI’s loan  to Bombay Rayon for $128m

Photo: Pradeep Gaur/ Mint

JM Financial Asset Reconstruction Co. (ARC) on Monday offered to buy out State Bank of India’s (SBI) loan to Bombay Rayon Fashions Ltd in a Rs900 crore full-cash deal, two bankers aware of the matter said.

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