Deutsche Bank and a Singapore based hedge fund bought more debt of an embattled Indian shadow lender, highlighting the growing foreign interest in the discounted assets of the financier at the center of a credit crisis. Deutsche Bank has almost doubled the debt it holds of Altico Capital India to 3 billion rupees ($42.1 million) in the last four months, while Singapore-based Broad Peak Investment Advisers has acquired debt of about 1 billion rupees, people familiar with the matter said. The German lender is now a member of the steering committee of creditors driving Altico’s debt restructuring, the people said, asking not to be identified as the information isn’t public. Interest in purchasing Altico’s debt is increasing even as certain potential bidders for the delinquent financier shy away from an auction process to sell the firm. A shareholder sponsored restructuring plan and an asset swap plan supported by some creditors are also under consideration to salvage Altico. Altico’s debt had been traded several times over the last few months, as creditors including another local shadow bank Bajaj Finance, and Abu Dhabi Commercial Bank sold their holdings, one of the people said. The most recent trade was made at almost half the face value when Abu Dhabi Commercial sold its holding in December, the people said. Spokesmen for Deutsche Bank, Broad Peak and Altico declined to comment while representatives for Abu Dhabi Commercial and Bajaj Finance didn’t immediately respond to emails seeking comment.