Facor Steels’ application for restructuring of Debt under the CDR mechanism has been considered by the CDR Empowered group in its meeting held on March 25, 2013 and approval has been granted for restructuring the debt of the company under the CDR mechanism. Bank of India (BOI) has been appointed as Monitoring Institution (MI) for the purpose of implementation of the approved package as also to comply with post-implementation requirements.
Monitoring Committee (MC) comprising representative each of Bank of India, Central Bank of India and State Bank of Bikaner and Jaipur has been constituted to facilitate the process of monitoring of progress of sanction and implementation of the approved package by respective lenders and to review the performance of the company/ restructuring package on continuous basis.
Facor Steels is a leading carbon, alloy, stainless and special steel manufacturer in central India with varied and broad product range, having the most modern state-of-the-art steel processing and quality assurance technologies.
