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Srei Infra seeks one-year blanket moratorium on debt repayment for industry

Srei Infra wants Centre to intervene and ask state govts to clear all dues to contractors, expedite tax refunds, and release payments in arbitration awards

Namrata Acharya  |  Kolkata 

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In order to solve the issue of liquidity, Srei Infra has asked Centre to intervene and ask state governments to clear all dues to contractors and others

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 (Insolvency and Bankruptcy Code).

First Published: Sat, March 21 2020. 16:54 IST
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