Lenders approve Reliance Defence’s CDR exit and refinancing plans

A consortium of lenders led by IDBI has given its approval to the corporate debt restructuring exit plan of Reliance Defence and Engineering Ltd. (RDEL), a subsidiary of Reliance Infrastructure. The lenders have also given their go-ahead for the implementation of refinancing scheme of RDEL.

Both the proposals were presented to the CDR empowered group’s (EG) meeting on March 29, 2017 and were approved by the requisite majority of CDR lenders. The Reserve Bank of India (RBI) had also given it nod for RDEL to exit the CDR package.

The lead lender of the consortium IDBI has also written to the Ministry of Defence confirming the approval granted by CDR group to RDEL’s CDR exit plan and refinancing scheme.Read More…

 

Credit By  : Business Standard

You may also read!

Doklam Standoff: Indian Air Force Chief Says Ready For Any Eventuality

As India explores diplomatic options to resolve the stand-off between Indian and Chinese troops in the Doklam plateau in

Read More...

Doval Arrives In Beijing Amid Sikkim Standoff

Amid the Sikkim standoff, National Security Advisor Ajit Doval arrived here today to attend BRICS top security officials meeting

Read More...

Ajit Doval To Urge BRICS For Stronger Counter-terrorism Cooperation

India will urge greater counter-terror cooperation with focus on denying terrorists access to finance, sanctuaries and weapons when National

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu