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SBH plans to restructure Maytas Infra debts

05 Oct 2010 Evaluate

State Bank of Hyderabad plans to restructure debts of Maytas Infra Ltd hit by resources crunch. Maytas had approached SBH to consider one-time settlement of its debt with the bank. But the bank has decided to restructure the account. Normal ways of restructuring will be followed in the case of Maytas as its debt with SBH was a little less than Rs 189 crore.

Earlier this year, Maytas Infra had executed one-time settlements with two banks for Rs 50.99 crore during the first quarter of 2011. SBH has kept its base rate unchanged at 7.75 per cent for the current quarter and do not intend to increase its deposit rates immediately.crackcrack

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