Lenders of household appliances maker Khaitan Electricals have invoked strategic debt restructuring and has fixed August 17, 2016, as reference date for the exercise.
“At the Joint Lenders Forum (JLF) meeting, the lenders have invoked strategic debt restructuring (SDR) in the company and adopted the ‘reference date’ for the purpose as August 17, 2016,” Khaitan Electricals informed BSE.
It further added: “It was also decided that another JLF meeting will be held to decide the way forward in this regard”.
Khaitan Electricals had approached the Board for Industrial and Financial Reconstruction (BIFR) in July this year for declaring it a sick company after its accumulated exceeded its net w…
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