India Inc now prefers to restructure loans outside the corporate debt restructuring (CDR) cell on a bilateral basis with their banks. According to bankers, several companies have in recent months requested lenders to restructure their loans without referring the proposal to the CDR cell.
A review of restructured loan book of 10 large banks, including State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank and Bank of Baroda, corroborates the trend. Their outstanding restructured advances stood at Rs 1,77,333 crore, out of which the tally of those under CDR cell was Rs 58,366 crore. The balance, at over 50 per cent, was under non-CDR category, including small and medium size enterprises (SMEs), according to estimates of CARE Research.
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