Corporate Debt Restructuring Cell launches its website
21 Sep 2005
Mumbai: The Corporate Debt Restructuring Cell has launched its Web site, (www.cdrindia.org) providing information about its three-tier structure, its members, the restructuring proposal format, restructuring process and the monitoring mechanism.
The Web site has information on policy guidelines, performance statistics and documents containing international experiences.
V.P.
Shetty, chairman and managing director, IDBI and chairman
of CDR Standing Forum and CDR Core Group, officially launched
the Web site on September 16, said a press release.
The
CDR Mechanism was instituted as per the guidelines issued
by the Reserve Bank of India in August 2001 to ensure
timely and transparent co-ordinated programme of restructuring
the debts of viable corporates and to minimise the losses
to creditors and other stakeholders.
As on August 31, 124 cases having aggregate debt of Rs72,721 crore were restructured, of which 97 have been fully implemented, with nearly 75 per cent cases performing well and meeting their debt service obligations on time, the release added.
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