Corporate News     05-Jun-17
Joint Lenders Forum of MSP Steel & Power decide to adopt S4A Scheme
At meeting held on 02 June 2017
The Joint Lender Forum of MSP Steel & Power in its meeting held on 02 June 2017 has decided to resolve the account under guidelines for ' Scheme of Sustainable Structuring of Stressed Assets Scheme issued by the RBI and decided to forward the restructuring proposal to the Overseeing Committee.

Under S4A, the existing debt of the Company will be bifurcated into two parts -

Part A comprising sustainable debt which will be 52% of existing debt and will be served as per the terms and conditions existing for the facilities.

Part B being the unsustainable part of the loan which can either be converted into equity shares of the Company and/or optionally convertible preference shares/ optionally convertible debentures as per the requirements of the S4A guidelines issued by the RBI.

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