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Jain Irrigation’s Restructuring Plan Nears Approval From Banks
Lenders to Jain Irrigation likely to approve a restructuring plan soon.
22 May 2020, 03:17 PM IST
Lenders to distressed irrigation equipment manufacturer Jain Irrigation Systems Ltd. are likely to sign off on a resolution plan for the company under the Reserve Bank of India’s restructuring guidelines.The lending consortium is mulling a resolution plan which involves extending the repayment period for Rs 4,600 crore in outstanding debt from two years to five years, said two people with direct knowledge of the discussions. Lenders ...
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