According to the proposal, there would be an upfront payment of Rs 350 crore while the accrued interest would be paid in 24 months after the initial 26 months of principal payment. Ilmi’s plan also includes full repayment to operational creditors and employees amounting to Rs 2.9 crore. She has also suggested that lenders appoint a professional CEO to run the company during the proposed repayment period. The proposal recommends the appointment of five directors, including two lender nominees, and includes an indemnity agreement between the company and these directors.
Pankaj Tibrewal sees stronger top-line growth driving India’s next earnings cycle
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June 30, 2026