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Steelmaker becomes first distressed firm to recast debt under same management

By Beena Parmar

  • 19 Feb 2020
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Steelmaker becomes first distressed firm to recast debt under same management
Credit: Reuters

A Chhattisgarh-based iron and steel products maker has become the first distressed company to restructure its debt under the same management as per the central bank’s stressed asset resolution framework. Raipur’s Vandana Global Ltd restructured its debt of Rs 489 crore ($68 million) by dividing it into sustainable and unsustainable portions ......

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