Binani Industries and Binani Zinc allowed to exit from CDR mechanism

Binani Industries Ltd has announced that the Corporate Debt Restructuring (CDR) forum has allowed the Company and Binani Zinc Ltd (BZL) (which was hived as per CDR package) to exit from the CDR Mechanism subject to the Company and BZL meeting the claims of two working capital lenders towards ‘right of recompense’ and ‘overdue interest’ of one lender. The Company and BZL have already given proposals to the said lenders for settling the issue mutually.

Source : Equity Bulls

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