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CDR cell refuses to take up Rs 70 bn loan recast plan of Electrosteel
July 31, 2013July 31, 2013by In Infrastructure Finance

CDR cell refuses to take up Rs 70 bn loan recast plan of Electrosteel

Agency reports indicate that the CDR (corporate debt restructuring) cell refused to consider the CDR request of Electrosteel Steels for its Rs 7,000-crore loan. This is because the company did not adhere to the terms of the proposal, including fresh capital infusion and corporate guarantee that promoters are supposed to bring to the table. Therefore, the consortium of 27 banks dela