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On the proposal to restructure Rs 11,150-crore loan extended to ABG Shipyard, a group of lenders led by ICICI Bank may take a decision soon. ABG Shipyard is the country's largest privately owned shipbuilding company.
The Mumbai-based ABG Shipyard has sought an additional loan of Rs 1,200 crore and a longer repayment period of 10 years, including a moratorium of two years, for its term loan.
ABG Shipyard has faced liquidity crunch due to the economic slowdown. The company's promoter, Rishi Agarwal will have to infuse Rs 200-300 crore capital and provide a personal guarantee, they said. Dhananjay Datar, CFO of ABG Shipyard, confirmed the company's proposal to the lenders.