Phoenix ARC Private Limited (Phoenix) is a company dedicated to the asset reconstruction business. The operations of Phoenix are based out of Mumbai. Phoenix acquires non-performing assets from banks and other financial institutions along with underlying securities to restructure / realise / unlock the value of such assets. Phoenix provides opportunities to qualified investors to invest in distressed assets.
Phoenix is sponsored by Kotak Mahindra Group, a leading diversified financial services Group. The Group through its subsidiaries hold 49% of the paid up Equity Capital of the Company. The Kotak Mahindra group pioneered purchase /sale of NPAs on cash basis and is a leading player in the Asset Reconstruction business, known for its superior resolution skills.
In June 2008, Phoenix obtained registration from Reserve Bank of India for carrying on business of securitisation & asset reconstruction under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002.