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A long road to recovery for IVRCL

Company's promoters hope for some external factors to come to the firm's rescue such as recovering at least a part of the Rs 6,000 crore stuck in disputes and possible improvement of market sentiment.

B Dasarath Reddy  |  Hyderabad 

Things turned grim when the order book lost its relevance in improving the revenue position for Hyderabad-based construction company IVRCL, despite a moratorium extended on repayment of loans by the lenders' consortium one-and-half-years ago. By the time the consortium of 20 lenders led by IDBI Bank decided to take the next logical step of invoking the strategic debt restructuring (SDR) in November 2015, the company's promoters were hoping for some external factors to come to the firm's rescue. These include recovery of at least a part of the Rs 6,000-crore money claims that ...

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First Published: Sun, February 07 2016. 22:45 IST
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