Page 13 - நம்பகத்தன்மை சில்லறை முயற்சிகள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Lenders to Future Retail have approved a debt recast plan wherein the company can extend the repayment of loans for up to a period of two years. This follows the approval of debt recast plan by the K V Kamath committee, set up by the RBI to recommend parameters for one-time restructuring of corporate loans. The resolution plan approved by the lenders and the board of directors of Future Retail will be executed by April 26. A group of 28 lenders, including Union Bank of India, Bank of India, State Bank of India, Bank of Baroda, Axis Bank and HDFC Bank, has decided to extend the repayment period of short term loans, term loans, NCDs, overdue working capital loans (converted into Working Capital Term Loans) of the company. Furthermore, as per the debt recast plan approved by the lenders, interest during the period March 1, 2020, and September 30, 2020, will be converted into Funded Interest Term Loan (FITL) which shall be payable by December 2021.

Axis bankUnion bankFuture retailState bankWorking capital term loansFunded interest term loanCare ratingsFuture groupReliance retail venturesFuture couponsFuture retail lendersDebt recastDebt restructuringஅச்சு வங்கிதொழிற்சங்கம் வங்கிஎதிர்கால சில்லறை