Board decides on CDR at meeting held on 14 August 2014
Tulsyan NEC announced that pursuant to decline in operating margins and blockage of receivables and consequent cash-flow mismatch in the Company, the Board of Directors at their meeting held on 14 August 2014 has decided to approach the Company's Bankers through the Corporate Debt Restructuring (CDR) process for re-alignment of the Company's debt obligations. As an outcome of the same, the Company has submitted its request to the lenders which is under their consideration.Powered by Capital Market - Live News
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