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Business

Prepare proper Restructuring plan of debt to revive businesses

by TLN Team October 29, 2020October 29, 2020
written by TLN Team October 29, 2020October 29, 2020
Prepare proper Restructuring plan of debt to revive businesses
Restructuring is not a blanket permission but enterprises have to prepare proper & classic restructuring plan of debt to ensure adherence to conditions precedent & subsequent said restructuring expert CA Sunil Pandey ,Mumbai while addressing a webinar on Debt Restructuring & One Time Settlement(OTS)organized by COSIA,Vidarbha.
He further said that proper assessment of identifying concession should be made which could be asked from bank in restructuring of existing & fresh limit if any.Presently there are three options under Restructuring viz. Re-schedulement, Restructuring & One time Re-structuring.He further said that now that the  moratorium period has ended ,the unit will have to pay principal plus interest and this will be the testing time for its liquidity management.
He visualized different situations of the units wherein business is struggling to revive,creditors are following up  vigorously, threatening also for which fresh funding to support the working capital cycle may be required.He also discuss the various modalities about different restructuring & settlement schemes.
CA Julfesh Shah,Vice Chairman,COSIA said that due to pandemic businesses are struggling to revive & this may lead to slippages in bank loans.The expected slippages are on account of the retail, agricultural sector, and small business loans that may not be able to meet the criteria laid down under the one-time restructuring framework announced by the Reserve Bank of India.While the growth in corporate credit is low in the current fiscal, the same in retail and small business loans is expected to be higher,Mr Shah added.
In July’s Finacial Stability Report, the RBI showed that the gross NPA ratio of all SCBs may increase from 8.5 per cent in March 2020 to 12.5 per cent by March 2021 under the baseline scenario &  if the macroeconomic environment worsens, the ratio may further escalate to 14.7 % under the severely stressed scenario.Hence updation regarding debt restructuring is very vital to meet this challenges.
At the outset,Shri Mayank Shukla,Chairman COSIA Vidarbha welcomed the speakers & said that particularly in Vidarbha region the number of stressed loans are increasing & it is the need of the hour to get themselves proper restructuring treatment so that they can move ahead smoothly in these turbulence times.Hence COSIA took the initiative on this front & organised this webinar to get directly connected with the experts of this field.He also appreciated the support of the team COSIA & thanked the participants for their overwhelming response to all the  programs that are being organised by COSIA.Shri Pranav Ambaselkar coordinated the proceedings & conducted the Q & A session.
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