Ind-Swift Laboratories proposal for restructuring of the company’s debt has been approved by the Empowered Group of Corporate Debt Restructuring (CDR) Cell communicated vide its letter of approval (LOA) dated November 09, 2012.
Pursuant to the term and conditions of LOA, the master restructuring agreement (MRA) has been executed between the company and the lenders on December 27, 2012. The cut off date for the CDR Package shall be July 01, 2012.
The CDR Package envisages reduction in rate of interest; deferment of payment of interest and principal amount of working capital facilities and term loans after a moratorium of 21 months from the cut off date.
Ind-Swift Laboratories is a part of the Ind-swift Group and is based at Chandigarh, India. The company is engaged in manufacturing of Active Pharmaceutical Ingredients (API). The company’s business model is focused on domestic market and high-value mature regulated markets along with considerable focus on the emerging markets as well.
Company Name | CMP |
---|---|
Sun Pharma Inds. | 1522.40 |
Dr. Reddys Lab | 6405.75 |
Cipla | 1482.00 |
Zydus Lifesciences | 1074.35 |
Lupin | 1625.00 |
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