Saturday, November 7, 1998
IFC reschedules DLF Cement's Rs 90cr loan
The cash-strapped DLF Cement has got a breather with International Finance Corporation agreeing to reschedule its outstanding loan of over Rs 90 crore. The third instalment of repayment of principal along with interest was due in September which the company wanted to defer in view of poor cement demand and a fall in cement prices.
ECL to face Rs 700cr resource gap
Eastern Coalfields (ECL), the biggest loss-making unit of Coal India, will face a resources gap of around Rs 700 crore during 1998-99 fiscal, according to sources. The losses would include cash loss, workers' wages, cess to be paid to the West Bengal government and pension fund.
Royal, SunAlliance set to zero in on health insurance
Royal and SunAlliance will focus on health insurance once the Centre throws open the sector to private and foreign firms. The firm is looking at several options, but health insurance would be its priority in the country. The company was writing health insurance in 19 countries, and would extend the business in three years to the sundry 59 countries where it has a presence.
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