India Inc woe: Corporate debt restructuring at a high in 2012 worth Rs 84,000 cr

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A total of 491 cases, involving total debt of Rs 2.67 lakh crore, have been referred to CDR cell. (Reuters) A total of 491 cases, involving total debt of Rs 2.67 lakh crore, have been referred to CDR cell. (Reuters)
SummaryA total of 491 cases, involving total debt of Rs 2.67 lakh crore, have been referred to CDR cell.

also grew sharply by 78 per cent.

As per the CDR data, a total of 50 cases involving an aggregate debt amount of Rs 40,000 crore were approved during 2011-12. In comparison, a total of 27 cases with Rs 7,000 crore were approved for CDR exercise in 2010-11.

During the fiscal ended March 31, 2010, a total of 31 CDR cases were approved for debt of Rs 18,000 crore.

Experts say that rising number of CDR cases does not augur well for the banking sector, as also for corporates.

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