Rajshree Sugars & Chemicals gets approval for CDR

The debt restructuring package of Rajshree Sugars & Chemicals Ltd was approved by the Empowered Group of Corporate Debt Restructuring (CDR EG).

This is subject to confirmation of minutes of March 14, 2014 at the ensuing CDR EG meeting. In line with the said confirmation, a Master Restructuring Agreement between the Company and all the CDR lenders will be executed, said the company in an announcement with the Bombay Stock Exchange.

The Board of Directors, at its meeting, held on March 24, 2014, have decided to accept the terms and conditions of the CDR Package and enter into the Master Restructuring Agreement within the stipulated period of 120 days, it said.