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Corporate Debt Restructuring |
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| 29-4-2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Corporate Debt Restructuring (CDR) mechanism is an organizational framework institutionalized for speedy disposal of restructuring proposals of large borrowers availing finance from more than one bank/ Financial Institution (FI). This mechanism is available to all borrowers engaged in any type of activity subject to the following conditions:- (i) The borrowers enjoy credit facilities from more than one bank/FI under multiple banking/syndication/consortium system of lending. (ii) The total outstanding (fund-based and non-fund based) exposure is ₹ 10 crore or above. CDR system in the country has a three tier structure consisting of CDR Standing Forum and its Core Group, CDR Empowered Group and CDR Cell, which are housed in the Industrial Development Bank of India Ltd. Details of cases taken up for consideration by the CDR Cell and their disposal status during the period March 2010 to December 2015 are given in the table at Annexure. Annexure CORPORATE DEBT RESTRUCTURING CELL PROGRESS REPORT (As on Dec 31, 2015) (Rs. in Crore)
(Source: CDR Cell) This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today. |
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