"The Joint Lenders Forum (JLF) of consortium banks in order to arrive at an early and feasible solution and preserve the economic value of the underlying assets as well as the lenders' loans has advised the company for restructuring under JLF as the Corrective Action Plan (CAP)," Ramky said in a filing with BSE.
"The company has submitted CAP to State Bank of India, the lead member of the consortium banks," the filing said, adding that the JLF will finalise the restructuring package.
The company had a total income of Rs 1,778.03 crore for 2013-14 and suffered a loss of Rs 432.11 crore in the last financial year.
Shares of the company closed nearly 1 per cent down at Rs 49.80 apiece on the BSE.
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