Sadbhav Lenders turn down NARCL offer, settle it out of court

Sadbhav Engineering lenders have chosen an out-of-court debt restructuring. This decision bypasses an offer from NARCL. A consortium-led plan was approved by lenders. The company finalized a ₹1,517 crore restructuring package. This move aims to resolve stressed assets outside insolvency courts. The agreement involves convertible debentures and equity conversion. Lenders include PNB, Union Bank of India, and Axis Bank.

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