India Debt Resolution Co (IDRCL), the managing arm of NARCL, secured a ₹691 crore arbitration award from Bombay High Court-appointed arbitrator Justice JP Devadhar. This is nearly six times the ₹117 crore IDRCL paid to acquire Sion Panvel Tollways’ (SPTPL) debt in 2024, marking one of the first recoveries for the government-backed bad bank since 2022.
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