NARCL acquires Rs 1,000-cr debt of Entertainment City for Rs 711 crore
Mumbai: The National Asset Reconstruction Company (NARCL) has acquired the debt of distressed leisure and retail complex, Entertainment City, after Punjab National Bank (PNB) accepted its ₹711-crore offer, according to sources, ending a year-long attempt by lenders to find a higher bidder. Noida-based Entertainment City has outstanding debt of about ₹1,000 crore. NARCL’s offer amounts…