Jindal Stainless Limited (JSL) has successfully exited the Corporate Debt Restructuring (CDR) framework with effect from March 31, 2019, with the company receiving a letter from the consortium of CDR lenders to this effect.
“Pursuant to this, existing CDR lenders have realised the full recompense of about ₹275 crore in cash, which will add to their income in the current fiscal itself.
Additionally, Jindal Stainless Limited has fully redeemed the outstanding Optionally Convertible Redeemable Preference Shares (OCRPS), which were issued to the lenders in June 2017, and has paid around ₹558 crore, taking the aggregate realisation of lenders to around ₹833 crore,” the company said in a statement.
You have reached your limit for free articles this month.
Register to The Hindu for free and get unlimited access for 30 days.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Not convinced? Know why you should pay for news.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.