Sources say, Pipavav Defence‘s debt stands at Rs 7,500 crore, but including the non-secured funding this debt may go up to Rs 12,000 crore.
CVR Rajendran, CMD of Andhra Bank said the bank is mulling many options to deal with the exposure of Rs 1500 crore. If the company's CDR plans go through, the bank is willing to refinance the loan by extending the period of repayment.
In full-year FY15, just 32 cases have been referred to the CDR cell, which is a marked improvement when compared with 101 in FY14.
According to India Ratings, the construction sector is likely to witness a turnaround due to a pick-up in execution and order inflow on improved economic growth of 6.5% in FY16.
Wind turbine maker Suzlon is close to selling off its wholly-owned German subsidiary Senvion for 1 billion euro (about Rs 7200 crore) as against its acquisition cost of 1.5 billion euro.
The company‘s board met on Tuesday to discuss its debt reduction strategy and is in the process of implementing Rs 9500 crore corporate debt restructuring (CDR) plan.
Given the recently-acquired balance sheet strength, NCC plans to repay high cost term debt of Rs 600 crore using proceeds of the rights issue.
As part of the CDR package, promoter group firm will pick up stakes to infuse Rs 92.17 crore into the company through preferential allotment of shares. It has around Rs 3,500 crore outstanding debt.
The Hyderabad-based infrastructure firm has made an allotment of 8,79,80,636 equity shares of Rs 2 each on Thursday to the CDR lenders who have signed the master restructuring agreement, said the company in its filing.
Over the time, Indo Count Industries has reduced debt to Rs 110 crore from Rs 280 crore plus, says company ED Kailash R Lalpuria.
RK Bansal, executive director, IDBI Bank and head- corporate debt restructuring (CDR), says he has received 12 cases in H1 while the same time last year he had received atleast 45 such cases.
The private sector shipbuilder which is under a CDR, will receive Rs. 650 crore infusion from lenders by this month-end as part of the Rs. 10,000-crore debt recast deal worked out in March.
The bank has seen atleast four CDR cases- Bharti Shipyard, Hotel Leela, Electrotherm, SBQ Steel- failing in the first five years of FY15.
Media reports suggested that the corporate debt restructuring (CDR) cell approved a Rs 2,530-crore debt recast proposal of Shriram EPC.
During the quarter, its total operating income jumped 18.5 percent to Rs 371.60 crore from Rs 313.53 crore in the same period last fiscal.
IVRCL, which had nearly Rs 3,000 crore debt, including Rs 2,795 crore short-term borrowings as on September-end, has been consistently incurring losses for some time now.
The reinstallments of the debt payment will start from April 15, 2015, and the interest rate for all funds has been reduced to an extent of almost 1 percentage point. The overall CDR package will be spread over 10 years.
Troubles of debt-laden ABG Shipyard will continue for a while as some of the 22 lenders have opposed the country's largest private shipbuilder's proposal to restructure its Rs 11,150-crore loan, according to banking sources.
The CDR move, Hemant Kanoria, chairman and managing director, SREI Infrastructure Finance, says is a good one as it prevent assets from being categorised under non-performing assets (NPAs).
"The application of the company for restructuring of its debts to the tune of Rs 6181.20 crore has been approved by CDR EG under the CDR mechanism from cut off date of March 01, 2013.
The board also increased the limit of borrowing and creation of security by way of pledge, mortgage on movable and immovable assets of the company, not exceeding to Rs 5500 crore.
More than 30 percent of Bank of Maharashtra's deposits are in interest-sensitive deposits, which come to more than Rs 1 crore, and unless the cost of deposits is increased, the bank may not be in a position to retain these deposits
According to Rakesh Sethi, the term deposit of the bank is also growing at good 27 percent, whereas the credit growth is muted to an extent and therefore, it does not require more liquidity at the moment
In an interview to CNBC-TV18, D Sarkar, CMD of Union Bank of India and Ananda Bhoumik of India Ratings & Research spoke about the asset quality concerns that India is facing
The economic environment hasn't changed much, looking at the last three months. It is more about Quantitative Easing (QE3) tapering, which is leading to this correction in private banks