Lenders to Bombay Rayon Fashions, which are planning to restructure company’s debt worth Rs 4000 crore, are likely to refer the company to CDR cell soon. With a total of 23 lenders having exposure to Bombay Rayon's debt, SBI is the lead lender with an exposure of Rs 900 crore.
Meanwhile, the company has received an approval for the proposal of Corporate Debt Restructuring (CDR). The board of director at its meeting held on July 19, 2013 has approved for the same.
Bombay Rayon Fashions is engaged into manufacturing of fabrics and apparels. It manufactures one of the most versatile and technically advanced fabrics and apparels in India.