“Creating an environment for investment in infrastructure is the need of the hour,” said Shailendra Dhakadey, co-founder of Mumbai-based restructuring advisory firm Special Situation Advisors India Pvt. It’s one of Prime Minister Narendra Modi’s most important challenges and key to kick starting growth, he said, adding that “unless some urgent initiatives are taken, nonperforming assets will deteriorate.”
“Some of the foreign investors are in discussion stages and transactions will start taking shape in the next six months,” said Shailendra Dhakadey, managing director of Mumbai- based Special Situation Advisors (India) Pvt. “Regulators are taking interest in this area and coming out with guidelines to ensure the market for distressed debt evolves
Chintan Shah, assistant vice-president with Special Situation Advisors Pvt Ltd, said in the current financial year, 16 banks had put bad loans worth Rs 7,000 crore on the block for interested buyers. During the fourth quarter (January-March 2014) more would be in the market to do so.