The sale of Daewoo India's assets has suffered two setbacks. CNBC-TV18 reports on why the sale has been stayed.
In a major setback, the Debt Recovery Tribunal (DRT) has stayed the sale of assets of Daewoo India assets till the next hearing. Crosslinks Finelease has already paid Rs 76 crore and was expected to get possession of the assets by March 25. The deal was to be financed partly in cash and the remaining via debt.
Daewoo's India plant is spread over 200 acres. The existing plant covers 80 acres and has the capacity to produce 72,000 cars, 3 lakh engines and 15,000 LCVs.
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In a major setback, the Debt Recovery Tribunal (DRT) has stayed the sale of assets of Daewoo India assets till the next hearing. Crosslinks Finelease has already paid Rs 76 crore and was expected to get possession of the assets by March 25. The deal was to be financed partly in cash and the remaining via debt.
