Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TDS :: empanelment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

IL&FS renegotiates Maytas Infra debt
November, 10th 2009

Maytas Infra, under the new management of IL&FS, is in the process of renegotiating the corporate debt restructure package with a clutch of banks including SBI, ICICI Bank and IDBI Bank.

The Chief of Operations for Infrastructure at IL&FS, K Ramchand, said the move is part of the exercise to restructure operations and finances, the overall debt burden and potentially raise additional bank guarantees for projects under execution. The process is complex and quite time consuming.

The Maytas debt payment was rescheduled with repayment option over seven years and the company was sanctioned a priority debt of Rs 100 crore and bank guarantee of Rs 200 crore.

The company is also taking expert guidance, including legal, in terms of recovery of inter-corporate deposits of nearly Rs 400 crore. Of this, a major chunk is with the fraud-hit IT firm Satyam Computer.
Open Offer

After the Company Law Board approved IL&FS takeover of Maytas Infra, the company had applied with the SEBI for an open offer to raise additional stake. We expect SEBI clearance to come in shortly and the open offer process could take about a month thereafter, Arun K. Saha, Chairman of Executive Board of Maytas Infra, said.

Earlier, the Maytas Infra board converged here to host its annual general meeting. However, the company is yet to finalise its results as it had sought time from CLB till December.

Maytas Infra, which bagged a major Rs 790-crore road project earlier this month, is in the process of expanding its portfolio of services including airports, ports and power projects, while also bidding for new projects.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions