BPL Ltd has run up against one more hurdle in getting
clearance for its Rs 1,400 crore restructuring package.
company, which recently received clearance from a majority
of banks and financial institutions, has been asked to
seek details from people who are against the corporate
debt restructuring. Senior officials of BPL say this would
open up a number of requests from vendors who were supplying
to BPL when it was functioning in proper shape before
it got into the vicious circle of debt.
company says it's vendors would be in an uneasy position
over BPL's efforts to move its entire colour TV manufacturing
assets and businesses to the proposed new 50:50 joint
venture with Sanyo as they would have to face a relatively
empty BPL Limited as television was the main business.
Limited has reported a loss of Rs 268.3 crore for the
18-month ended March 31, 2005 from October 1, 2003.