Asset Reconstruction Company (India) Limited (ARCIL) and Arcion Revitalization Private Ltd, has separately submitted an expression of interest for a stressed loan book of INR 480 billion, people informed about the development. J.C. Flowers & Co. LLC, the anchor bidder for Yes Bank Limited (NSEI:YESBANK) portfolio, has made an offer of INR 111 billion to secure a stressed loan.

There were only two entities that submitted binding bids for Yes Bank's bad loans. ET seeks response from ARCIL, Cerberus Capital Management, L.P. and Yes Bank which will be updated soon. The EoI bidders will be given three weeks to complete due diligence, which will be followed by the Swiss Challenge auction.