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CFM ARC wins bid for PNB's Gammon debt at 73% haircut

CFM Asset Reconstruction Company has acquired Punjab National Bank's 514 crore loan to Gammon India for 140 crore. This acquisition gives CFM control over a significant portion of Gammon's legacy non-performing asset, primarily targeting its real estate assets. The deal represents a substantial haircut for PNB, highlighting the challenges in recovering debt from EPC companies.

18 Mar 2026 6:21 am