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CDR

CDR cell approves loan recast

CDR cell approves loan recast
The corporate debt-restructuring (CDR) cell has approved loan recasts worth Rs 19,950 crore in the first four months of the present fiscal. This is basically an indication that the corporates remain stressed. The number of referrals, however, took a sharp fall; the figure fell to eight for the same period. Soundara Kumar the deputy managing [...] Continue Reading »

Bankers are going to ‘investigate’ construction firms before debt restructure

Bankers are going to ‘investigate’ construction firms before debt restructure
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »

Suzlon to sell property of value Rs.1,000 crore

Suzlon to sell property of value Rs.1,000 crore
Mrs. Tulsi Tanti, managing director, says that the Suzlon Energy Ltd plans to raise Rs.1,000 crore by corporate debt restructuring (CDR) process that Suzlon started in January 2013. The company is also targeting to cut off operating expenses, staff costs and headcount by 20 percent, besides selling non-critical assets. As per the investor presentation, $400-500 [...] Continue Reading »

Infra sector sees most CDR cases

Infra sector sees most CDR cases
Of the cases approved in FY13 and first half of FY14, companies in the construction or infrastructure sectors form the highest proportion of Corporate Debt Restructuring, according to rating agency ICRA. Indian construction sector is in a tight spot due to delay in environmental clearances, high land acquisition costs and increased due diligence by lenders. [...] Continue Reading »

Loan restructure to cross Rs 3 Lakh crore by the end of financial year

Loan restructure to cross Rs 3 Lakh crore by the end of financial year
Mr. Vishwanath Nair concluded in a report that the loans restructured by corporate debt restructuring (CDR) will cross Rs 3 lakh crore by the end of this financial year. The loan recast in the financial year 2014 have crossed Rs 70, 000 crore with restructuring requests for nearly to Rs 20, 000 crore having delayed [...] Continue Reading »

Neptune, Lodha look to buy Gammon India Mumbai plot

Neptune, Lodha look to buy Gammon India Mumbai plot
Mumbai-based Neptune Group and Lodha Developers are looking to Gammon India’s 185 acre land in Dombivli. They have also submitted their offers for the same. The plot is about 185 acre in size and was put on the block in mid 2013. It has been learnt from the sources that the offer of the Neptune [...] Continue Reading »

Two hotels to be sold by Leela for Rs 2k crore

Two hotels to be sold by Leela for Rs 2k crore
Wealth funds of Abu Dhabi, Qatar and Malaysia are competing with each other to acquire two of India’s prime properties. It is going to be one of the biggest deals in the Indian hospitality industry. The governments mentioned above are cash rich and are looking to pick up 74% stake in the Leela Group’s Delhi [...] Continue Reading »

KSL Group in deep waters

KSL Group in deep waters
Two recent shocking developments in KSL industries, the listed flagship of the Tayal group, have resulted in doubts over the creditworthiness of the group. Reward Real Estate, which held key real estate assets of the group in 15 centres, ceased to be its subsidiary last year and in a shocking move Saurabh Kumar Tayal, who [...] Continue Reading »



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