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Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company鈥檚 (NARCL) Rs 1 billion offer. The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger. Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter鈥檚 offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It鈥檚 an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns. Also Read Godrej Properties set to buy 50-acre parcel at Palghar Singapore鈥檚 GIC, India鈥檚 ESR Group set up $600 mn JV