NARCL to take over debt of Sri Govindaraja for ₹270 crore

NARCL will acquire Sri Govindaraja Mills. The textile company owes creditors over ₹750 crore. NARCL's offer of ₹270 crore was unchallenged. This will be NARCL's second asset acquisition. The deal involves 15% upfront cash and 85% in security receipts. Government guarantees back these receipts.