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Lenders to troubled real estate financier Altico Capital India have begun preliminary work on restructuring debt amounting to over Rs 4,000 crore. Altico, a realty financier backed by private equity (PE) investors, has defaulted on payments towards external commercial borrowings (ECBs).
It defaulted on interest payment of Rs 19.97 crore on ECBs that it had availed from Mashreqbank PSC.
The gross principal amount was Rs 347 crore. This is another instance ...
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