NARCL offers Rs 6.40 billion for Simplex Infrastructure debt

National Asset Reconstruction Company Limited (NARCL) has made a Rs 6.40 billion offer for the debt-laden EPC company Simplex Infrastruc­tures. The government-backed bad bank’s offer equates to a less than 7 per cent recovery to lenders for total dues of Rs 96 billion. The offer from NARCL includes Rs 5.90 billion for banks with a fund-based exposure and Rs 0.50 billion for banks with a non-fund-based exposure.