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Paramount Comm - Proposal for Corporate Debt Restructuring under CDR System and signing of Debtor-Cr

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Paramount Comm - Proposal for Corporate Debt Restructuring under CDR System and signing of Debtor-Cr
Category  :  Corporate News
Date  :  Aug-23-2010 09:58

Paramount Communications Ltd has informed that the Company has requested State Bank of India, the lead bank under consortium arrangement to make a reference to Corporate Debt Restructuring (CDR) forum for restructuring of its debts under CDR system and also requested other lenders to support the restructuring under CDR. The Company on August 20, 2010 has executed debtor-creditor agreement in favor of CDR Cell & lenders based on approval of the Board of Directors of the Company in their meeting held on August 12, 2010.

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