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Business Briefs

Suzlon debt recast

Mumbai, Nov. 27: The SBI-led consortium of 20 lenders has agreed to recast the Rs 11,000-crore loan of Suzlon Energy under the corporate debt restructuring (CDR) mechanism, a top company official has said. The world’s fifth largest wind turbine maker, which had last month defaulted on the redemption of its $221 million foreign currency convertible bonds (FCCBs), had a fully secured gross debt of Rs 14,568 crore on its book in the July-September quarter, taking its debt to four times the equity.

Inflation bonds

Mumbai, Nov. 27: The Reserve Bank is in talks with the finance ministry to launch inflation-indexed bonds, which can help to reduce the physical demand for gold, deputy governor H.R. Khan said here today.

Port contract

Calcutta, Nov. 27: Seapol Ports and two Singapore-based entities are likely to win the contract to install and run mobile harbour cranes at berth number 4B at the Haldia Dock Complex. They will put up two cranes at an investment of Rs 60 crore and provide mechanised operation.

Emami sales

Calcutta, Nov. 27: Emami is expecting a 20 per cent rise in winter sales to Rs 500 crore from Rs 400 crore during the same season last year on the back of brands such as Boroplus and Zandu Chyawanprash.

MFI conduct

New Delhi, Nov. 27: Micro-finance institutions (MFIs) need to have a code of conduct and must follow “respectful” methods for recovery of loans, finance minister P. Chidambaram said today.


 
 
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