Beena Parmar
Moneycontrol News
Lenders to Lavasa Corporation Limited, unit of Hindustan Construction Company (HCC) group, have invoked the strategic debt restructuring (SDR) plan to resolve the stressed assets of the firm.
Additionally, SDR has also been invoked on Lavasas two wholly owned subsidiaries Warasgaon Assets Maintenance Limited and Warasgaon Power Supply Limited, HCC informed in a stock exchange filing.
The total debt of the company to be restructured is tentatively at about Rs 3,000 crore.
The Reserve Bank of Indias bad loan resolution plan, SDR, – set up in 2015 – will involve lowering of companys debt burden by converting a part of loans into equity, along with the implementation of the proposed business plan …
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