Seven cases referred to CDR cell in Q4: Sources

Just seven cases have been referred to the corporate debt restructuring cell in the fourth quarter this fiscal year, down from 13 cases in the third quarter, sources say.

Loans recasts worth Rs 20,500 crore are awaiting nod from the CDR cell. In full-year FY15, just 32 cases have been referred to the CDR cell, compared with 101 in FY14.

The cases that have come up for recast are Pipavav Defence worth Rs 7,500 crore, Concast for Rs 5,700 crore, Orissa Manganese and Minerals worth Rs 3,700 crore, MSP Metallics worth Rs 1,300 crore and Tantia Construction worth Rs 900 crore.

The next CDR cell meeting will take place this week. Approval for Suzlon's Senvion sale will be taken up in this meeting.