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Our Vision
ISARC vision is to become the leading Asset Reconstruction Company which would unlock the idle NPAs lying in the Financial Sector, including Banks/FIs, with a focus on the NPAs in the MSME sector, for their productive use by resorting to innovative resolution mechanisms of NPAs.
About ISARC
 
Origin of ARCs
  Asset Reconstruction Companies [ARCs] are established under SARFAESI Act, 2002 as specialized entities for NPA resolution. These ARCs are established to acquire, manage and recover illiquid or ¡®Non-Performing¡¯ Assets [NPAs] from Banks / FIs. This process would relieve the banking system of the burden of NPAs and would allow them to focus better on their core function of financing and development of new business opportunities so as to further strengthen the economy. The ARCs would maximize recovery value with optimal costs through its innovative NPA resolution methods.
   
Initiative of SIDBI
  SIDBI is the Apex Financial Institution for MSME sector and has taken a number of proactive measures for the MSME sector including setting up subsidiaries / associate concerns providing support services like providing of Venture Capital, Credit Guarantee, Rating, Technology Services, etc. which have immensely benefited the sector. Recognizing the need for an ARC for the MSME segment, SIDBI has thus taken the lead to promote India SME Asset Reconstruction Company Ltd. (ISARC).
   
Sponsors
   
 
SIDBI (www.sidbi.in)
  SIDBI, an Apex Financial Institution set up by an Act of Parliament in 1989, has been set-up with a mission to empower the Micro, Small and Medium Enterprises (MSME) sector with a view to contributing to the process of economic growth, employment generation and balanced regional development. It has been given a mandate to promote, finance and develop the MSMEs and co-ordinate with institutions involved in these activites. The Bank¡¯s vision is to emerge as a single window for meeting the financial and developmental needs of the MSME sector to make it strong, vibrant and globally competitive, to position SIDBI Brand as the preferred and customer - friendly institution and for enhancement of share - holder wealth and highest corporate values through modern technology platform. Apart from providing finance, both directly to MSMEs and indirectly through financial intermediaries, viz., Banks, SFCs, NBFCs, etc., it has taken a number of of proactive measures for the benefit of MSMEs including setting up subsidiaries / associate concerns providing support services like provision of Venture Capital, Credit Guarantee, Rating, Technology Services etc. which have immensely benefited the sector. As a sequel to this and having regard to the need to unlock funds locked up in NPAs, SIDBI has promoted ISARC in association with Public Sector Banks, LIC and State Financial Corporations with a focus on NPAs of MSME sector.
   
  SIDBI Venture Capital Ltd. (www.sidbiventure.co.in)
  SIDBI Venture Capital Limited (SVCL) is a wholly owned subsidiary of SIDBI, incorporated in July 1999 to act as an umbrella organisation to oversee the Venture Capital operation of SIDBI. SVCL manages the various Venture Capital Funds launched/ being launched by SIDBI and has a mission to catalyse entrepreneurship by providing capital and other strategic inputs for building businesses around growth opportunities and maximize returns on investment. Their mission is to catalyse entrepreneurship by providing capital and other strategic inputs for building businesses around growth opportunities and maximize returns on investment
   
  United Bank of India (www.unitedbankofindia.com)
  After nationalization in 1969, United Bank of India has expanded in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas. The ¡°Bank that begins with U¡± has emerged as a dynamic techno-savvy, customer-centric, progressive and financially sound bank of the country with pan-India presence.
   
  Bank of Baroda (www.bankofbaroda.com)
  Bank of Baroda, was founded by Maharaja Sayajirao Gaekwad of Baroda on July 20, 1908 with a paid up capital of Rs 10 lakh, has since traversed an eventful and successful journey over 100 years. It has diversified into areas of merchant banking, housing finance, credit cards and mutual funds and has developed as ¡°India¡¯s International Bank¡±.
   
Shareholders
   
The shareholders of ISARC are as under :
   
 
Sr. No Name
Principal Sponsors
1. Small Industries Development Bank of India (SIDBI)
2. SIDBI Venture Capital Ltd.
Sponsors
3. United Bank of India
4. Bank of Baroda
Other shareholders
5. Punjab National Bank
6. Punjab & Sind Bank
7. Bank of Maharashtra
8. Syndicate Bank
9. Corporation Bank
10. Dena Bank
11. Union Bank of India
12. Allahabad Bank
13. Oriental Bank of Commerce
14. UCO Bank
15. Life Insurance Corporation of India
16. Kerala Financial Corporation
17. Andhra Pradesh State Financial Corporation
18. Rajasthan Financial Corporation
19. APITCO Ltd
   
This distribution amongst shareholders makes ISARC the only Asset Reconstruction Company in India with such a diverse and large shareholder base.
   
Board of Directors of ISARC
   
 
Non-executive Chairman of ISARC
 
 
  Shri N.K. Maini
DMD, SIDBI
 
       
Shri Ninad B. Karpe Ms. Radhika Pereira Shri Sanjeev R. Pandit
     
Shri S.R. Kolarkar Lt. Col. (Retd.) R.S. Chordia Shri Rajiv Kumar Dangi
     
  MD & CEO, ISARC  
 
    Shri Rajendra M. Ganatra
 
     
 
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