CESC, an RPG group power company, has kicked off a Rs 3,000 crore debt restructuring and has mandated investment bank J P Morgan to advise it on the issue.
The lenders on their part have picked audit and consultancy firm Ernst & Young to monitor the cash flows and advise them on the proposed restructuring.
The company is saddled with debt estimated between Rs 2,500 crore and Rs 3,000 crore.
Confirming the development a senior RPG group executive said,
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