Adani Ports emerges top contender for Karanja Terminal takeover

Mumbai: Adani Ports and Special Economic Zone has emerged as the frontrunner to acquire embattled Karanja Terminal & Logistics after creditors backed its ₹625-crore recovery plan, people familiar with the matter said. The largest commercial port operator in the country proposed a full recovery for financial creditors regarding their dues of ₹625 crore, they said. ET had reported in November that distressed debt aggregator Prudent ARC had acquired nearly the entire debt of Karanja.