Rohit Ferro-Tech has received an approval to approach the bankers for restructuring its debts through Corporate Debt Restructuring (CDR) process. The board of directors at their meeting held on October 28, 2013 have approved for the same.
The company has taken this step considering the losses in the quarter ended September, 2013 due to increase in the cost of inputs, high finance costs and foreign exchange fluctuation and cash flow constraints.
Rohit Ferro Tech had started its operations in October’03 with a Ferro Alloy plant comprising of Two 9 MVA Submerged Arc Furnaces to produce High Carbon Ferro Chrome at Bishnupur in the state of West Bengal.
