Creditors to approve Religare Finvest plan for 1-time settlement

RFL owes ₹5,344 crore to more than a dozen lenders, led by Bank of Baroda (BoB). It has offered to settle these claims with an immediate payment of ₹2,320 crore, a 57% haircut for secured creditors. Despite being approved by a majority of creditors, the plan was stuck as the SBI external committee, which vets such proposals, was reluctant to give a go-ahead.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.