Omkara Assets Reconstruction Private Limited (Omkara ARC), incorporated as a private company in 2014, was granted Certificate of Registration by the Reserve Bank of India (RBI) in 2015 under Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) to operate as an Asset Reconstruction Company (ARC).
The Company was initially promoted by Dr. A. Sakthivel, an internationally acclaimed textile exporter cum entrepreneur from Tirupur, after comprehending the distress faced by MSME borrowers to revive their business during the financial crisis. Thereafter the Company was spearheaded by Mr. Manish Motilal Lalwani and today it has created a niche for itself in revival and turn-around of sick units in all sectors across the country.
Omkara ARC has an experienced Board and is managed by an efficient team of executives having specialized exposure in the field of due diligence, corporate restructuring, resolution of distressed assets as well as legal and financial sector. Besides, the Company is backed by strong professionals from diverse backgrounds such as administrators, bankers, chartered accountants, finance professionals, lawyers etc., each bringing rich and valuable experience to the table. Every day the Company is successfully facing challenges in its field of operation and validating its capability by accomplishing incredible targets within a reasonable timeline.
ARC is a genre of financial institutions which are licensed and regulated by the RBI. They are a recourse specifically established for the purpose of resolving Non-Performing Assets (NPAs) of Banks & Financial Institutions (FIs). ARCs play a fundamental role in clearing the liability of Banks / FIs. The SARFAESI Act provides the legal framework encompassing the setting up and functioning of ARCs and facilitates Banks/FIs in accelerating the process of recovery, without approaching the legal forums.
The business of the Company is mainly conducted from its corporate office in Mumbai and also has presence in major cities viz. New Delhi, Chennai, Kolkata and Tirupur to facilitate its business operations.