The Indian Express
The Financial Express
Latest News
Screen
Express Computer
Corporate Results
Expresswheels
Travel
Matrimonials
Careers
Lifestyle
Astrology
E-Cards
Columnists
Graffiti
Crossword
Letters
Environment
Jewellery
Info-tech
Power
Steel
Global Tenders
Filmtvindia
|
| |
Thursday, July 1, 1999
ICICI moots revival scheme for Aurangabad Paper
PRESS TRUST OF INDIA
New Delhi, June 30: Operating agency ICICI has mooted a Rs 7.34 crore draft rehabilitation scheme (DRS) for sick company Aurangabad Paper Mills Ltd (APML), envisaging the company's net worth turning positive by 2004-05.APML's promoters have been asked to contribute Rs 3.63 crore by way of interest-free unsecured loans, subordinate to the secured loan, within one month of the date of the sanction of the scheme, ICICI said at the latest hearing of the Board for Industrial and Financial Reconstruction (BIFR).The promoters have also been directed to bring in additional funds to meet any shortfall in cash accruals, besides an unconditional and irrevocable personal guarantee for all existing and future institutional and bank loans or working capital facilities, the OA said.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
|
Printer-friendly page |
|
