The Reserve Bank of India (RBI) has refused to accord infrastructure status to Hindustan Construction Company’s (HCC) subsidiary Lavasa Corporation’s loans. Pursuant to which, the company will not be able to recast its debt through the Corporate Debt Restructuring (CDR) Cell of banks. Lavasa Corporation is setting up a controversial township project near Pune.
An entry into the CDR Cell will have helped the company’s loans to be categorized as standard asset. Allegations, which are devoid of any substance and made with a deliberate intention to derail the smooth progress of the project, did have an impact on the finances of the company.
HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4008.35 |
| Rail Vikas Nigam | 305.05 |
| NCC | 170.40 |
| KEC International | 586.80 |
| Kalpataru Projects | 1280.75 |
| View more.. | |
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