Kotak group ARC to walk away from bankrupt textile firm

Kotak Mahindra Group’s asset reconstruction arm is set to exit a Mumbai-based bankrupt textile firm, a person told VCCircle. Phoenix ARC's exit will be made possible by SVG Fashions’ Rs 79 crore offer for publicly listed Raj Rayon Industries, which has been approved.  The fabric maker's plan, which is almost Rs 10 ......