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SDR holdings is one of the components of the foreign exchange reserves of a country. IMF makes the general SDR allocation to its members in proportion to their existing quotas in the Fund.
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The total debt of the company to be restructured is tentatively at about Rs 3,000 crore.
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The CDR system of restructuring corporate debt was introduced in 2001 as an institutional mechanism for restructuring corporate debt. Any loan exposure of Rs10 crore and more and involving at least two lenders could have been tackled on this platform.
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Speaking to CNBC-TV18, Manisha Girotra of Moelis India said that India urgently needs capital and restructuring of stressed assets should be undertaken through any means possible.
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According to a media report, Brookfield was involved in initial stage talks with the power company to sell these plants of 4,000 MW. The deal could prescribe equity value at Rs 4,500-5,000 crore.
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According to a media report, Brookfield was involved in initial stage talks with the power company to sell these plants of 4,000 MW. The deal could prescribe equity value at Rs 4,500-5,000 crore.
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A source privy to the development said, "JSW Steel has put in final bid and the bankers are considering the offer submitted by JSW Steel. It is the only company which submitted the final bid."
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Non-performing assets (NPAs) of banks have shot up to 9.5 percent in the third quarter of this fiscal from 9.1 percent in the previous and 8.5 percent in the March quarter.
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State Bank of India chairman Arundhati Bhattacharya today said banks need some more clarity and dispensations to resolve the stressed assets problem.
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Amid legal agencies investigating bank officials on loan sanctions; bankers fear taking hair-cuts on bad loans and demand more teeth to resolution mechanisms.
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The company's board meeting is scheduled to be held on January 4, 2017 to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.
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Pratibha Industries today said its board will meet next week to consider and approve the issue and allotment of shares on preferential basis to its lenders under Strategic Debt Restructuring (SDR) scheme.
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Creditors of debt-laden infrastructure developer IVRCL are likely in talks with Essel Infraprojects to sell a controlling stake in the company‘s listed unit Hindustan Dorr-Oliver (HDO), an article in the Mint says.
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IFCI, Axis Bank, PNB, Canara Bank, IOB, SBM are among the lenders to the company. Sravanthi Energy has a 450 MW thermal power project in Uttarakhand and the company has a debt of over Rs 1,320 crore and is already declared as a non-performing asset (NPA).
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Over the last six quarters, not much improvement was seen on the operating side, said Jairam Sridharan, CFO of Axis adding that there now is more uncertainty over eventual numbers of slippages.
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Lenders to ABG Shipyard have become majority shareholders in the company despite failure to invoke strategic debt restructuring (SDR) where lenders can take 51 percent control, reports CNBC-TV18.
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Sources tell CNBC-TV18 all permissions are in place for lenders to rope in new investors to take control and make management changes, if necessary.
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The lenders have written to the RBI to give them more time to turn the company's debt into equity citing the fact that there are legal restrictions.
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Lenders to Jaiprakash Power Ventures Ltd have recommended invocation of Strategic Debt Restructuring (SDR) which will allow them to convert part of their debt into equity.
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As part of the deal, banks may pull the company's debt from the strategic debt restructuring (SDR) account to put it in S4A.
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Lenders have approved the Rs 16,189-crore Jaiprakash Associates- UltraTech deal which had been stuck for some time now due to valuation conflicts, reports CNBC-TV18.
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With the lenders invoking the
strategic debt restructuring (SDR) option against debt-laden
Japyee Group earlier this week, sale of its cement business to
UltraTech for Rs 15,900 crore has come under a cloud.
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The new guidelines released by the Reserve Bank yesterday to deal with non-performing assets (NPAs) are an excellent initiative, says BK Batra, Deputy MD of IDBI Bank.
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The aim of the paper titled 'Scheme for Sustainable Structuring of Stressed Assets' is to “strengthen the lenders‘ ability to deal with stressed assets and to put real assets back on track by providing an avenue for reworking financial structure of entities facing genuine difficulties.â€
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SP Tulsian of sptulsian.com in an interview to CNBC-TV18 shares his take on infrastructure and sugar sectors and in which direction he sees stocks of majors like Maruti Suzuki, State Bank of india and Tata Motors headed.
