Electrosteel Steels' debt recast plan approved by CDR cell

Company to restructure Rs 6,181.2 crore debt

Electrosteel Steels Ltd’s application for restrucurting of Rs 6,181.20 crores debt has been approved by Corporate Debt Restructuring team.

 

In a notification to the BSE today, Electrosteel Steels said that the debt recast mechanism cut off date is from Mar 1, 2013.

 

The term loan outstanding of non-CDR lenders amounting to Rs 611.91 crores will be outside the purview of corporate debt restructuring, said Electrosteel Steels.