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The number of applications approved for participation in the Restructuring Scheme “Estia” has increased, reaching 1,049. At the same time, appeals for 881 applications that were denied will be re-examined compared to only 543 last March.
In an interview, Sunil Mehta said the board initiated talks with potential investors to raise as much as ₹10,000 crore as part of the restructuring scheme. He also said the new asset reconstruction company would be formed by September
MMTC announced that pursuant to outstanding existing financial assistance/credit facilities Restructuring Scheme approved by Banks of MMTC in terms of above RBI guidelines, the Board of Directors of the company approved the Implementation and Signing of necessary documents in this regard on 8 June 2021. State Bank of India is the lead Banker. Under this scheme, the company has got moratorium/deferment on recovery of interest for credit facilities upto December 2021/March 2022 and for Principal upto March 2022 by different Banks. The final settlement is envisaged out of divestment proceeds o...
Synopsis Can the one-time restructuring plan, supposed to be implemented by March 31, 2021, offer some breathing space for the Covid- battered MSME sector? As the pandemic brought large-scale miseries to businesses, the already beleaguered Indian MSME sector went into an overdrive to seek help from every possible source. The government through various means also tried to help this critical sector. Notably, in August last year, the Reserve Bank of India (RBI), as an interim relief measure, came out with a one-time restructuring (OTR) scheme for stressed firms. Under this, borrowers with loans ...