Gammon India lenders move to take control of company
MUMBAI (Reuters) - Gammon India Ltd's lenders have begun a process to swap their debt into equity under the so-called strategic debt restructuring scheme, the company said on Monday.
The engineering and construction company did not give further details in a stock exchange filing.
India's central bank in June allowed lenders to temporarily take control of a company under its strategic debt restructuring scheme.
(Reporting by Suvashree Dey Choudhury and Devidutta Tripathy; Editing by Keith Weir)