BackTecpro Systems corporate debt restructuring plan approved
CDR proposal approved by the corporate debt restructuring cell in Mumbai
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Mumbai: Tecpro Systems Ltd., an engineering, procurement and construction firm, said on Wednesday that its corporate debt restructuring (CDR) proposal has been approved.
In an update to the exchanges, Tecpro said that the CDR proposal was approved by the corporate debt restructuring cell in Mumbai.
In April, Mint reported that a clutch of lenders led by State Bank of India (SBI) has admitted a ₹ 5,000 crore loan restructuring proposal of the Delhi-based company. Tecpro is facing financial difficulty due to delays in cash receivables.
Shares of Tecpro closed at ₹ 18.24 apiece, 4.95% lower than its previous close on the BSE, while the benchmark Sensex index ended 0.46% lower at 28,032.85 points.
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