Asset Reconstruction Company (India) Ltd, the country's oldest buyer of stressed assets from financial institutions, said it is looking to tie up with foreign investors to fund the huge bank bad loan buys. Its CEO and MD Vinayak Bahuguna said it would explore the possibility of selling a stake to foreign investors, including private equity firms, or even float joint ventures with them to buy the bad loans. Banks have been increasingly putting chunks of bad loans on the block to meet the Reserve Bank of India's March 2017 deadline to clean up their balance-sheets. "I see money coming in from overseas. I don't see money available locally. Banks don't have the (financial) ability today and the NBFCs are already leveraged," said Bahuguna. As announced in Union Budget 2016-17, the Centre on Saturday decided to allow 100 per cent FDI in asset reconstruction companies (ARCs) via the automatic route. "So, where is the money here? Who is going to give it to you? It is going to be foreign capital, 99 per cent… all the way," Bahuguna said. Industry body Assocham says stressed assets of the banks may soar to 10-lakh crore in the fourth quarter of the current fiscal from 8 lakh crore in December 2015. This is largely due to the slowdown in certain sectors, such as iron and steel, infrastructure, and textiles, and the RBI clamping down on provisioning norms.