Supreme Infra’s R4,500-cr debt to be recast under S4A( sustainable structuring of stressed assets )
Per Bloomberg, Supreme Infra consolidated debt at R4,529 cr in FY16.
The company reported a net loss of Rs.163 cr and revenues of R1,404 cr in FY16
due to interest outgo of R360 cr in the same period.
Under the S4A scheme, Company's debt will be bifurcated into two Portons(sustainable and unsustainable).
Under Sustainable Debt
Not to be less than 50% of the existing debt will be serviced on the same terms as that of the existing.
According to RBI guidelines, banks need to convert their debt into equity within 210 days of the reference date(December 29, 2016 ), failing which will turn the account non-performing.
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