Restructuring package of engineering PSU Andrew Yule, which was referred to BIFR, has been completed post the conversion of Bank of Baroda’s loan into equity and the company is now looking at higher profits, a top official said.
“Following the recent conversion of BoB’s term loan into equity, the restructuring package of Andrew Yule prepared by BIFR is now complete,” Sunil Munshi Director (personnel) holding additional charge of CMD told PTI.
He said earlier State Bank of India’s term loan was converted into equity. “Following both the conversions, the company will now be able to save on interest outgo and can look for more profitability,” Munshi said.
Munshi said the company would now be able to …
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