One-fifth of CDR cos queue up again

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SummaryAs many as 15-20% of the new cases being referred to CDR cell are cases that are seeking a second admission into the CDR cell, said a banker close to the cell.

While unveiling the mid-year monetary policy on October 30, RBI governor D Subbarao said the new guidelines on loan restructuring based on the Mahapatra committee recommendations. Amongst the recent cases that have sought a second round of restructuring include the R9,000 crore restructuring package for Jindal Stainless. In an earlier round of restructuring in August 2009, the company's debts to the tune of R6,500 crore was admitted into the cell.

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