ABG Shipyard's bad loan has put pressure on the banks to follow a legal case against the shipping company
ABG Shipyard has failed to make payments to some banks which have classified the account as bad loan, according to a media report.
ABG Shipyard's bad loan has put pressure on the banks to follow a legal case against the shipping company, the report added.
ABG Shipyard had restructured its loans to Rs. 11,000 crore in 2014 due to stress in business. The company failed to meet even the liberal norms set by the 22 banks, including State Bank of India, Bank of India, Canara Bank andIDBI Bank through the so-called CDR programme, the report added.
ABG's revenue declined to Rs. 30.4 crore in the December 2014 quarter from Rs. 1,595 crore in the full fiscal year of 2013-14, regulatory filings show. Its December quarter widened to Rs 294 crore, from the previous fiscal year's loss of Rs 199 crore.
ABG Shipyard's bad loan has put pressure on the banks to follow a legal case against the shipping company, the report added.
ABG Shipyard had restructured its loans to Rs. 11,000 crore in 2014 due to stress in business. The company failed to meet even the liberal norms set by the 22 banks, including State Bank of India, Bank of India, Canara Bank andIDBI Bank through the so-called CDR programme, the report added.
ABG's revenue declined to Rs. 30.4 crore in the December 2014 quarter from Rs. 1,595 crore in the full fiscal year of 2013-14, regulatory filings show. Its December quarter widened to Rs 294 crore, from the previous fiscal year's loss of Rs 199 crore.
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