corporate debt restructuring
Consolidated Construction Consortium Ltd will focus on rate contract-based construction orders rather than large infrastructure projects, according to R Sarabeswar, Chairman and CEO. Addressing shareholders at the annual general meeting, the Chennai-based company which has gone in for corporate debt restructuring, said it will focus on construction contracts for factories, institutions and other structures, where [...] Continue Reading »
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 »
On June 28 the Corporate Debt Restructuring Empowered Group (CDR EG) of Reserve Bank of India had a discussion in a meeting and had approved the Corporate Debt Restructuring proposal submitted by IVRCL. IVRCL is a leading infrastructure company and has a name in the roadways, express highway and other infrastructure related construction projects. This [...] Continue Reading »
In the FY15 thus far, the Corporate Debt Restructuring (CDR) cell has not received any debt recast requests; thanks to the new guidelines which have been put in place by the Reserve Bank of India with regard to the management of stressed assets. The new RBI guidelines were announced in January, and became effective from [...] Continue Reading »
Hotel Leela venture is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell off its two main properties situated in Delhi and Chennai for around Rs 1,850 crore. The two properties will be hive off into separate entities by the firm which owns, operates and manages hotels, palaces and resorts. [...] Continue Reading »
In as many as 23 states, MoFPI has approved a total of 40 mega food park projects in various stages of implementation. Under the Mega Food Park scheme of the Union ministry of Food Processing Industries (MoFPI), a state PSU, The Odisha Agro Industries Corporation Limited (OAIC) is eager to set up a mega food [...] Continue Reading »
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 »
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 »
Hindustan Construction Company’s dues of Rs. 5, 000 crore, mainly with various government agencies, continue to be stuck in litigation, although a year has passed. Praveen Sood, group chief financial officer, HCC,told sources ,out of the dues of R5,000 crore, R1,000 crore is being battled out in courts for settlement while the remaining R4,000 crore [...] Continue Reading »
Both public and private, twenty five lenders, have secured an option to gain control over the sick infrastructure firm Lanco Infra, following one of the largest corporate debt restructuring (CDR) ,by conversion of 3,024 crore of loans into equity which involves 11,155 crore. In a communication, seeking the approval of shareholders for the issue of shares [...] Continue Reading »
