The National Asset Reconstruction Company Limited (NARCL) is grappling with challenges as lenders exhibit reluctance to accept security receipts (SRs) and extended negotiations on the valuation of stressed loans, according to Purshotam Agarwal, the Chief Investment Officer of NARCL. Despite submitting binding offers for the acquisition of a substantial debt portfolio of Rs 1.70 trillion, only Rs 25,000 crore has been acquired so far. Agarwal cites concerns about value mismatch, delays in approvals, and other resolution strategies impacting the conversion rate. NARCL, established by banks to consolidate stressed assets, faces the task of streamlining processes to expedite the resolution of NPAs.