The debt-laden hospitality major Hotel Leela venture Ltd has got a breather. The restructured repayment plan of the company has finally been accepted by the lenders. It has received a 24-month moratorium for the outstanding principal amount of Rs 3,000 Cr it borrowed from a consortium of 17 banks. It applied for corporate debt restructuring (CDR) in February 2012. At the September 12 CDR meeting held with the banks, Leelaventure was told to repay all its outstanding principal amount in eight years from January 2014.
No comments:
Post a Comment