Creditors to approve Religare Finvest plan for 1-time settlement

RFL owes ₹5,344 crore to more than a dozen lenders, led by Bank of Baroda (BoB). It has offered to settle these claims with an immediate payment of ₹2,320 crore, a 57% haircut for secured creditors. Despite being approved by a majority of creditors, the plan was stuck as the SBI external committee, which vets such proposals, was reluctant to give a go-ahead.

via Economictimes