PTC India Financial Services Limited (PFS) has informe that it has been specified as “Financial Institution” by the Central Government under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 vide notification by Department of Financial Services, Ministry of Finance.
Ashok Haldia, Managing Director & CEO, PTC India Financial Services Limited (PFS) said, “This is an important notification which would help a long way in enabling large Infrastructure Finance Companies like PFS to take effective measures in dealing with non-performing assets and in relation to recovery of dues / loan amount and restoration of economic value of the stressed assets. This would help in reducing the non-performing / stress assets. With this, PFS would take appropriate steps under SARFAESI Act wherever circumstances specific to such assets so require.”
