The Hindu Business Line : 34 cos come up for debt rejig

Mumbai, April 24 The Corporate Debt Restructuring Cell, a non-statutory voluntary mechanism set up jointly by banks and financial institutions at Reserve Bank of India’s behest, has received 34 cases of corporate debt restructuring involving an outstanding aggregate amount of Rs 7,500 crore in 2008-2009.

Of the 34, half are from the textiles sector. Companies from sectors such as steel, and auto components too have come up for restructuring in the last one year. The double whammy of global and domestic economic slump has led to a number of corporate entities getting referred to the cell, whose secretariat is in IDBI Bank.

More Stories on : Non-Performing Assets | Restructuring

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Forex reserves fall by $517 m

Investment stimulus is key

IDBI Bank net up 28% at Rs 314 cr

M&M Financial clocks 43% rise in Q4 net

Rise in non-interest income lifts Corporation Bank Q4 net 26%

Bank guarantees beyond 10 yrs

PNB sees scope to cut lending rates

‘A growth-oriented policy’

34 cos come up for debt rejig

Call rate ends flat

CD ratio of banks in Kerala declines

Bank officers’ body seeks nationalisation of pvt banks

Bharti Axa appoints new CEO

New ED for Central Bank