Page 16 - Banking Finance December 2018

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o t p ans to se ir B risis a erse affe t on Rea state se tor
B co panies ho ha e ad anced aro nd Rs a h crore to the rea estate
n ia s rea estate
sector ha e t rned e tre e ca tio s in sanc
he o ern ent has decided to se
tionin oans or dis rsin those a read sanc
so e of the Mahara ah s rea estate
tioned after the crisis. he rea estate circ e
a on ith the strate ic sa e of the
e pects a ch rn here ea er de e opers i
air ine s ro nd hand in s sidar
either e it pro ects or rin in a stron er p a er
ir ndia ir ransport er ices i
as a co de e oper.
ited in order to red ce de t
rden of the co pan . ccordin to n ri chair an of naroc ac
of sa es and o erhan of nso d in entor is ca sin the crisis. a nches in n
inance Minister r n ait e a e
dia is do n to 22 nits near ha f fro the pea . here i e ost
the reen i ht to se 27 acres of ir
definite a s o do n in a nches as de e opers and B s t rn ca tio s ri
ndia s and in the capita s p ar et
asant ihar to p ic sector co said o er the phone. Rah araf o ner of or ro ects co pared the present
pan B . his and i e sed to sit ation to ndia s eh an o ent.
i d hi h end r apart ents.
here i e a h e cascadin effect in the econo if credit f o to rea
he pane reported a so too an in
estate sector is not res ed soon. t i i pact se era pro ects araf said
princip e decision to ta e p the sa e
addin de e opers s a ta e rid e finance to co p ete pro ects or to ro
of a ar e p ot on Ba a hara in h
o er e istin oans fro B s.
Mar in entra e hi hich can e
f that stops peop e i ha e to se assets he said. ccordin to ho hit
ta en p for co ercia se.
ar a ana in director of naroc the recent B crisis has c ear
he ne t phase of onetisin the e
spe t intense oo if not o tri ht doo for ndian rea estate .
ea ered air ine s assets the entre
fter the crisis so e B s e en ha ted the dis rsa of ear ier
i decide on se era i din s that it
sanctioned oans to de e opers on fear of idenin the f ndin crisis. he orst
o ns. he o ic is c ear to et rid of
phase ca e hen so e B s r ed de e opers to ret rn the one that
a the rea estate that the air ine
as dis rsed to the so that the can repa their d es ar a rote in a
does not need. s per o ern ent es
note.
ti ates the sa e of and so e
of the other s sidiaries a on ith he note sa s near i ion of t a f nd de t in B s and s ho sin
the onetisation of ir ndia s and finance co panies is at rin et een cto er 2 and March 2 . Be
assets co d he p the de t ridden fore the crisis rea estate as a read dea in ith a assi e cash cr nch and
carrier raise o er Rs crore s d ed de and eca se of hich ore than 7 per cent of the a ai a e credit
hich i e sed to repa enders.
faci it has a read een e ha sted.

1 | 201 | DECEMBER | B CE