Sakthi Sugars restructures financials under CDR approved by RBI

Sakthi Sugars Ltd has announced that the Company has restructured its financials under the Corporate Debt Restructuring Scheme (CDR) approved by Reserve Bank of India.

Pursuant to the approval of CDR Empowered Group, the Company has repaid / redeemed all the loans / preference shares / debentures covered under CDR Scheme on September 28, 2006 by availing fresh term loans from financial institutions and banks at a lesser rate of interest. In this process, the Company on September 28, 2006 has redeemed the following:

1. 12,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 1200 lakhs subscribed by ICICI and Karnataka Bank.

2. Partly Convertible Redeemable Debentures aggregating to Rs 752.61 lakhs subscribed by IDBI, IFCI and ICICI.

3. Non-convertible Redeemable Debentures aggregating to Rs 3539.40 lakhs subscribed by Banks.

Source : Equity Bulls

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