NARCL improves offer for Vidarbha Industries Power

The government-promoted asset reconstruction company has given an improved counteroffer to lenders for acquiring the loans of Anil Ambani-promoted Vidarbha Industries Power, two people aware of the development told ET.

The National Asset Reconstruction Company Ltd (NARCL) offered ₹1,150 crore for the power company against an offer of ₹1,000 crore from CFM ARC, the people said.