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Dec 22, 2012
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Cos tap CDR cell to rejig Rs 52k-cr loans in Apr-Nov
Corporate India’s balance sheets are getting increasingly stressed as companies struggle with the slowdown. And banks are bearing the brunt of it. Loans worth a whopping Rs 52,000 crore have been referred to the corporate debt restructuring (CDR) cell between April and November this year and that’s after R50,000 crore of debt having been recast in the first six months of the year. Several large companies have sought lenient terms after their businesses turned weaker. These include Hotel Leela, Bharti Shipyard, GTL and HCC.
Bankers say requests continue to pour in: the CDR cell received requests worth R3,000 crore in November from six companies requesting easier terms. Among these are Parabolic Drugs, Jai Hind Projects and Biltube Industries.
Source -
http://www.financialexpress.com
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