Gammon India lenders move to take control of company
23/11/2015 14:45
MUMBAI, Nov 23 (Reuters) - Gammon India Ltd's GAMM.NS
lenders have begun a process to swap their debt into equity
under the so-called strategic debt restructuring scheme, the
company said on Monday.
The engineering and construction company did not give
further details in a stock exchange filing.
India's central bank in June allowed lenders to temporarily
take control of a company under its strategic debt restructuring
scheme. urn:newsml:reuters.com:*:nI8N0RI023
(Reporting by Suvashree Dey Choudhury and Devidutta Tripathy;
Editing by Keith Weir)
((suvashree.dchoudhury@thomsonreuters.com; +91-22-61807223;
Reuters Messaging:
suvashree.dchoudhury.thomsonreuters.com@reuters.net))
Keywords: GAMMON INDIA STAKE/BANKS