{"id":342305,"date":"2020-03-18T12:21:05","date_gmt":"2020-03-18T06:51:05","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342305"},"modified":"2020-03-18T12:21:05","modified_gmt":"2020-03-18T06:51:05","slug":"cil-likely-to-convert-preference-shares-of-arm-into-equity","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cil-likely-to-convert-preference-shares-of-arm-into-equity\/","title":{"rendered":"CIL likely to convert preference shares of arm into equity"},"content":{"rendered":"<p>Kolkata: State-run miner Coal IndiaNSE 0.24 % Limited (CIL) plans to convert preference shares of its loss-making subsidiary Bharat Coking Coal Limited (BCCL) into equity shares to prevent it from heading to the bankruptcy tribunal because of default.<\/p>\n<p>CIL had given loans of \u20b92,540 crore to its subsidiary for working capital and investment requirement to keep it afloat. However, when BCCL could not repay, CIL in 2013 converted the dues into 5% cumulative, non-convertible and redeemable preference shares of face value \u20b91,000 each.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kolkata: State-run miner Coal IndiaNSE 0.24 % Limited (CIL) plans to convert preference shares of its loss-making subsidiary Bharat Coking Coal Limited (BCCL) into equity shares to prevent it from heading to the bankruptcy tribunal because of default. CIL had given loans of \u20b92,540 crore to its subsidiary for working capital and investment requirement to keep it afloat. However, when BCCL could not repay, CIL in 2013 converted the dues into 5% cumulative, non-convertible and redeemable preference shares of face value \u20b91,000 each.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[194,130,136],"tags":[],"class_list":["post-342305","post","type-post","status-publish","format-standard","hentry","category-coal-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=342305"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342305\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}