Bankers look to resolve account of troubled wind turbine maker Suzlon Energy to stop contagion effect
Bankers may make one more attempt to resolve the account of troubled wind turbine maker Suzlon Energy to prevent the failure of one big wind energy player from triggering contagious defaults affecting the health of the entire sector.
Sources privy to the development told IANS that lenders may seek a month’s extension for complete resolution of Suzlon beyond the stipulated 180 days allowed under the latest Reserve Bank of India circular.
The 180-day window for bankers for finding a resolution for Suzlon under inter-creditor agreement is ending on January 6, after which the company has to be taken to the bankruptcy court for resolution.
