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Banks Seek NBCC’s Support for Developing Defaulters’ Lands
November 17, 2017
Multiple traditional banks and other financial institutions have approached the public-sector real estate developer NBCC Limited to develop the land assets that were handed over to them as collateral by the promoters of the defaulter companies.
A senior executive from the NBCC said that private sector banks, as well as public sector banks, have approached NBCC, many of which want to monetize the land assets they have with them.
The NBCC executive said the firm will only develop such assets and for a fee. The banks can later on either use them for commercial purposes or sell them for profit.
