StanChart Sells Stressed Loans in HNG, Chenani Nashri Tollways
Standard Chartered Bank has sold two stressed loan accounts — Hindusthan National Glass and Chenani Nashri Tollways — to UV Asset Reconstruction Company (ARC) and Deutsche Bank, respectively, as part of a broader programme to tidy up its books, people aware of the development told ET. The bank sold a $40-million (equivalent to about 7310 crore) debt exposure in the tollways project, promoted by the IL&FS Group, to Deutsche Bank, the people cited above said.