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Article: RAPICUT CARBIDES UPDATES ON DEBT RESTRUCTURING

Article from:
The Hindustan Times
Article date:
February 14, 2007
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Report from the India Press Release brought to you by the Hindustan Times

MUMBAI, India, Feb 14 -- The Bombay Stock Exchange (BSE) of India made the following corporate announcement:

Rapicut Carbides Ltd., has informed BSE that the Company has to report significant development in the matter of restructuring of debt of Rs. 2 Crores being the principal amount representing Non-Convertible Debentures (NCDs) issued by the Company in 1996 to Regional Rural Banks (RRBs) sponsored by Bank of India.

The said debt was raised for Company's Expansion-Cum-Diversification programme but the same did not take off as the Company fell prey to the economic downturn, which soon followed. The said NCD debt of ...

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