 "Electrosteel Steels' debt recast plan approved by CDR cell")
Electrosteel Steels Ltd’s application for restrucurting of Rs 6,181.20 crores debt has been approved by Corporate Debt Restructuring team.
In a notification to the BSE today, Electrosteel Steels said that the debt recast mechanism cut off date is from Mar 1, 2013.
The term loan outstanding of non-CDR lenders amounting to Rs 611.91 crores will be outside the purview of corporate debt restructuring, said Electrosteel Steels.