Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders

Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders https://www.taxtmi.com/circulars?id=63289 ARCs are barred from bilateral acquisition of financial assets from (i) a sponsoring bank or financial institution, (ii) a bank or financial institution that is a lender to the ARC or a subscriber to funds raised by the ARC, and (iii) any entity in the ARC's group. Despite this prohibition, ARCs may participate in auctions for financial assets if auctions are transparent, conducted on an arm's length basis, and prices are determined by market forces. en-us Fri, 06 Dec 2019 00:00:00 +0530 Fri, 06 Dec 2019 18:51:00 +0530 TaxTMI RSS Generator Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders https://www.taxtmi.com/circulars?id=63289 ARCs are barred from bilateral acquisition of financial assets from (i) a sponsoring bank or financial institution, (ii) a bank or financial institution that is a lender to the ARC or a subscriber to funds raised by the ARC, and (iii) any entity in the ARC's group. Despite this prohibition, ARCs may participate in auctions for financial assets if auctions are transparent, conducted on an arm's length basis, and prices are determined by market forces. Circulars RBI Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=63289