 "Srei Infra seeks one-year blanket moratorium on debt repayment for industry")
Kolkata-based Srei Infrastructure has sought a blanket moratorium on debt repayments for a year.
In a letter written to the Prime Minister Narendra Modi, Srei has asked for a two-year window for borrowers and lenders to rework the terms of loan.
In order to solve the issue of liquidity, it has asked Centre to intervene and ask state governments to clear all dues to contractors and others, expedite the process of tax refunds, and release payments in arbitration awards.
Further, it has said that banks should provide seven-year term loans to systematically important NBFCs. It has also asked for removal of Section 29A of IBC (Insolvency and Bankruptcy Code).
In a letter written to the Prime Minister Narendra Modi, Srei has asked for a two-year window for borrowers and lenders to rework the terms of loan.
In order to solve the issue of liquidity, it has asked Centre to intervene and ask state governments to clear all dues to contractors and others, expedite the process of tax refunds, and release payments in arbitration awards.
Further, it has said that banks should provide seven-year term loans to systematically important NBFCs. It has also asked for removal of Section 29A of IBC (Insolvency and Bankruptcy Code).
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