HDFC Bank has sanctioned and disbursed various credit facilities aggregating to Rs 67.88 crore to CMI Energy India, the wholly owned subsidiary (WOS) of CMI.
Out of these credit facilities Rs 47.88 crore have been utilized to repay high cost Term loan earlier taken from Religare Finvest and remaining facilities have been availed as working capital credit facilities.
CMI is a supplier of cable accessories, cables, conductor cables, electric cable accessories, equipment, and machinery.