In December, creditors to RFL approved settling of their Rs 5344 crore dues to more than a dozen lenders, with an immediate payment of Rs 2320 crore, a 57% haircut. A majority of the settlement has been paid from loan recoveries of the company. Saluja said higher recoveries meant that shareholders of the parent Religare Enterprises Ltd (REL) had to infuse Rs 220 crore which was lower than the Rs 400 crore envisaged in the initial OTS plan.from Banking/Finance-Industry-Economic Times https://ift.tt/qkL8C40
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