#ICICI Bank Personal Loan Ahmedabad
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Personal Loan in Ahmedabad | Moratorium Finserv
Moratorium Finserv is a Personal Loan in Ahmedabad provides you with a variety of lending solutions with Personal Loan Providers in Ahmedabad from its extensive network of Premier Banks and Financial Institutions. HDFC Bank, ICICI Bank, Standard Chartered, Axis Bank, Citibank, Kotak Mahindra, Bajaj & others are some of our Personal Loan partners.
Personal loans are a common financial product that can be used for a variety of purposes. These loans are often offered at a lower interest rate than other types of loans. With the interest rates so low, it's an excellent time to take out a personal loan and start investing in your future. Moratorium Finserv provides Personal Loan in Ahmedabad.
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ICICI Bank Personal Loan
ICICI Bank Personal Loan #AhmedabadICICIBankPersonalLoan, #ICICIBankPersonalLoan, #ICICIBankPersonalLoanAhmedabad, #PersonalLoanAhmedabad - http://www.loansandcredits.in/icici-bank-personal-loan/ http://loansandcredits.in/wp-content/uploads/2018/01/personal-loan.jpg ICICI Bank Personal Loan ICICI Bank Personal Loan :- Unplanned or emergency expenses can crop up at any time in our life. If you are planning to get married or want to indulge in an exotic vacation and are falling short of funds, then worry no more. Instead, it is indeed a good idea to explore ...
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Are you looking for Home Loan in Hyderabad?
Chillz India Financial services (CIFS) provides Business loan, Personal Loan, Home Loan inHyderabad, Ahmedabad, Delhi, Gurgaon, Noida, Bangalore, Kolkata, Mumbai and all major metro cities. We have tie ups with various banks to provide the concessional rate of interest to our customers. We provide loans from various banks like ICICI Bank, HDFC Bank, Yes Bank, Kotak Mahindra Bank, India Bulls Home loans, Indusind bank etc. We give assured gift on every loan of more than 20 Lacs.
For more information, Pls visit our website www.chillzindia.com
#home loan#PERSONAL LOAN#business loan#Loan against property#housing loan#chillz india#Mortgage Loan
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आप सभी के पास इस समय किसी ना किसी बैंक में खाता खुला ही होगा और उस बैंक अकाउंट का प्रयोग आप पैसे का लेन - देन करने में करते होंगे और जब आपको अपने खाते का बैलेंस जानना हो तो आप सीधे सीधे बैंक में जाकर पासबुक पर इंट्री करवा के पूरी जानकरी प्राप्त कर लेते होंगे।
ऐसे में क्या आपने कभी सोचा है की यदि हम अपने खाते की सम्पूर्ण जानकारी घर बैठे बैठे मिल जाए तो कितनी मजेदार बात हो जाएगी। ये ट्रिक सौ फीसदी काम करती है और आप बिना बैंक का चक्कर लगाए खाते को कण्ट्रोल कर ��कते है। चलिए आपको पूरी जानकारी बताते है।
किसी भी बैंक खाते के जानकारी के लिए आप और हम इन तरीको का प्रयोग करते है इनमे से है -
ऑफलाइन मेथड
ऑनलाइन मेथड
ऑफलाइन में हम लोग क्या करते थे की हम बैंक में जाकर बैंक कर्मचारी से कहकर अपने पासबुक पर सारी लेन - देन की जानकारी छपवा देते थे और फिर उसको पढ़ कर के जान लेते थे। ये वाला तरीका थोड़ा पकाऊ होता है क्योकि इसमें दूर बैंक में जाना पड़ता था और लाइन में लगकर भीड़ भाड़ में अपना काम करवाना पड़ता था। कुल मिला के ये वाला तरीका आज के डिजिटल जमाने थोड़ा बेकार लगता है।
दूसरा तरीका ये है आप ऑनलाइन यानि इंटरनेट कर प्रयोग करके अपने खाते का सब कुछ विवरण जान सकते है। इसके लिए आपके पास इंटरनेट कंनेक्शन होना जरूरी है। जब आपके पास इंटरनेट कनेक्शन है। मतलब की आपके स्मार्टफोन में इंटरनेट है तो आप इसका प्रयोग कर सकते है।
Mobile Se Account Balance Kaise Jaane
ऑनलाइन अपने खाते का बैलेंस चेक करने के तरीके निम्नलिखित है -
Internet Banking
Bhim UPI
Customer Care
Internet Banking
Internet banking सबसे अच्छा और बढ़िया तरीका है खाते का व्योरा जानने का। आपको इंटरनेट बैंकिंग की सेवा शुरू करने के लिए आप के पास एटीएम कार्ड होना आवश्यक है। या फिर आप अपने सम्बंधित बैंक में जाकर यूजर आई डी और पासवर्ड की मांग कर सकते है।
BHIM UPI
BHIM UPI मोबाइल से पेमेंट करने का सबसे अच्छा तरीका है ये सेवा NPCI ( National Payrment Corporation of India ) के द्वारा डेवेलोप किया था और अब इस समय सबसे ज्यादा सुरक्षित पेमेंट करने का तरीका भी है। आपको इसमें रजिस्टर करने के लिए कुछ चुनिंदा एप्प उपलब्ध है उनका प्रयोग करना चाहिए।
Paytm
Bhim UPI
FreeCharge App
Other Many More App
आप इन एप्लीकेशन की मदद से इन पर upi पर रजिस्टर कर सकते है। आपको अपना एटीएम कार्ड और रजिस्टर्ड मोबाइल नंबर की जरूरत पड़ेगी।
Customer Care
Customer Care ये वाला चौथा सबसे अच्छा तरीका है खाते का बैलेंस जाने का। आप किसी भी बैंक के अधिकृत कस्टमर केयर पर फ़ोन करके आप अपने खाते की जानकारी और अन्य सभी जानकारी की मांग कर सकते है। ध्यान रहे की आपसे ये कुछ व्यक्तिगत डाटा पूछे जा सकते है जैसे की --
आपके बैंक खाते का नंबर
आपका न��म
आपकी जन्मतिथि
आपका आधार नंबर
पिछले पांच ट्रांसक्शन
आदि
इसीलिए सभी जानकारी होने पर ही आप बैंक के कस्टमर केयर पर कॉल करे। यहाँ पर हमने सभी बैंको के कस्टमर केयर नंबर प्रदान कर रहे है।
Bank
CustoCustomers Care Numbers
State Bank Of India
1800 11 2211 (toll-free), 1800 425 3800 (toll-free), 080-26599990
ICICI Bank
1860 120 7777
HDFC Bank
011-61606161(Delhi and NCR) 022-61606161 (Mumbai) 040-61606161 (Hyderabad) 044-61606161 (Chennai) 033-61606161 (Kolkata) 080-61606161 (Bengaluru)
Yes Bank
1800 1200 (toll-free) +91 22 6121 9000
Citibank
1860 210 2484
Kotak Mahindra Bank
1860 266 2666
Axis Bank
1860-419-5555 1860-500-5555
Bank of Baroda
1800 258 44 55 (toll-free) 1800 102 44 55 (toll-free)
Standard Chartered Bank
6601 4444 / 3940 4444 (Pune, Mumbai, Bengaluru, Delhi, Hyderabad, Ahmedabad, Chennai, Kolkata)
HSBC Bank Personal Loan
1860 266 2667 1860 500 2255
IDFC First
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Tata Capital
1800 209 6060 (toll-free)
Karnataka Bank
1800 425 1444 080-22021507
Bajaj Finserv
020 3957 5152
Ujjivan Small Finance Bank Personal Loan
1800 208 2121 (toll-free)
Federal Bank
1800-425–1199 1800-420-1199
Vijaya Bank
1800 425 5885 1800 425 9992 1800 425 4066 (toll-free)
Andhra Bank
1800 425 1515 (toll-free) 040 23234313, 23252000 Extn: 2422, 2577
Bank of Maharashtra
1800-233-4526 1800-102-2636 (toll-free)
Central Bank of India
1800 22 1911 (toll-free)
City Union Bank
044-71225000
Dhanlaxmi Bank Personal Loan
+91 - 0487 6613000
J&K Bank Personal Loan
0194-2481999
Nainital Bank
120-2401083
OBC Bank
1800-102-1235 (toll-free), 1800-180-1235 (toll-free) 0120-2580001
IndusInd Bank
18605005004 022 44066666
InCred Personal Loan
+91-1860 500 2192
IIFL Bank
1860-267-3000 7039-050-000
Bank of India
1800 220 229 1800 103 1906 (022) – 40919191
Aditya Birla Capital
1800 270 7000
HDB Financial Services (HDBFS) Personal Loan
+91 44 4298 4541
Fullerton India
1800 103 6001 (toll-free)
IDBI Bank
1800-209-4324 1800-200-1947 1800-22-1070 (toll-free) 022-67719100
Corporation Bank
1800 425 2407 (toll-free), 080 26600587, 26602500
Karur Vysya Bank
022-24398199
South Indian Bank
1800 425 1809 (toll-free) 1800 102 9408 (toll-free)
Indian Overseas Bank
+91-44- 28524212
RBL Bank
+91-22-6115-6300 ,99 1800 123 8040
Punjab National Bank
1800 180 2222 1800 103 2222 0120-2490000 011-28044907
#बोनस टिप्स इन सभी के अलावा एक और सुविधा हम लोगो को मिली है बलके चेक करने के लिए हम मिस काल कर सकते है। सभी बैंक ने अपने ग्राहक को मिस के द्वारा बॅलन्स जान्ने की सुविधा दी है। आप इन नम्बरो पे मिस्स्कॉल कर���े बैलेंस चेक कर सकते है बशर्ते आपका मोबाइल नंबर आपके खाते के साथ जुड़ा हुआ हो।
Online Mobile se Bank Account Ka Balance Kaise Check Kare
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NEW DELHI: Jaiprakash Power Ventures’ lenders, led by ICICI Bank, have restructured its debt by converting much of it into equity or convertible instruments, and approached the National Company Law Tribunal (NCLT) to withdraw their application for starting of bankruptcy proceedings.The outstanding debt of the Jaiprakash Associates group company has reduced to less than Rs 6,000 crore, from more than Rs 11,000 crore, following the restructuring. The terms involve an interest write back of about Rs 2,000 crore that will help the company report a net profit this fiscal, people in the know said.ICICI Bank, which had filed for initiating proceedings under the Insolvency and Bankruptcy Code against the company in 2018, last Friday moved an application before the Ahmedabad bench of NCLT for its withdrawal. Since the earlier petition is yet to be admitted, the bank will be allowed to withdraw it, said a person cited above.A Jaiprakash Power Ventures spokesperson confirmed that the lenders had approved the debt restructuring, but refused to divulge details. An ICICI Bank representative didn’t respond to queries until press time Monday.“The consortium of lenders has agreed to a restructuring whereby they reduced outstanding loan of Rs 11,282 crore to Rs 5,800 crore; the balance was converted into equity or compulsorily convertible preference shares,” said a senior banker involved in the process.73237125 As many as 22 banks and financial institutions have agreed to convert Rs 3,840 crore of debt into compulsorily convertible preference shares, with a maturity period of 29 years and coupon rate of 0.01%, said the banker. The remaining debt of Rs 5,800 crore on the company’s book will carry an interest rate of 9.50%, this banker added.People in the know said the restructuring would lead to an interest write back of nearly Rs 2,000 crore for the company, which in turn would enhance its net worth and make it profitable from the current fiscal year itself.“After the restructuring, the company’s annual interest cost burden will decline from nearly Rs 1,500 crore to less than Rs 600 crore, leading to a gain of nearly Rs 1,000 crore annually in interest cost alone,” said a senior company official, speaking on the condition of anonymity.Under the scheme of arrangement, Jaiprakash Power Ventures has also converted $110 million (equivalent to Rs 663 crore based on the exchange rate when the restructuring process started) of foreign currency convertible bonds (FCCBs) into equity at Rs 12 a share, as against the prevailing market price of less than Rs 2 per share.The company has also converted about Rs 350 crore of corporate loan from JSW Group into equity shares at Rs 10 each. After restructuring, JPVL has become a professionally run power company with original promoter JP group’s shareholding declining to 24%. Banks and financial institutions own a 42.643%, while FCCB holders got 8.36% and JSW Group have a tad over 5.1%. About 19% is held by public shareholders.JPVL has generating capacity of 2,220 MW (400 MW of hydel and 1,820 MW of thermal). It owns a 74% in a 224-km transmission network to evacuate power from the Karcham Wangtoo hydel project. from Economic Times https://ift.tt/2TgKfrQ
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Is The Punjab National Bank Personal Loan Attractive in Comparison to Others?
Punjab National Bank (PNB) has always remained at the forefront among the public sector banking peers. But when it comes to fighting against the fav 3 - State Bank of India (SBI), ICICI Bank and HDFC Bank, PNB has had to customize its product offerings constantly. So what if it’s about Punjab National Bank Personal Loan, the bank strives to ensure the product sails through the competition. But, is it competitive enough to challenge the supremacy of fav 3 and others? Let’s find out.
Punjab National Bank Personal Loan Interest Rate & Other Details
The bank disburses personal loans for several purposes such as marriage, medical treatment, education, travel, etc. Any permanent defence personnel including the officials of Border Security Force, Central Industrial Security Force, Central Reserve Police Force, as well as confirmed employees of both public and private entities. Even the permanent employees working in universities, colleges, schools and hospitals can apply for Punjab National Bank Personal Loan.
The minimum personal loan to be offered amounts to ₹50,000. On the other hand, the maximum loan amounts to ₹4 lakhs or 20 times the net monthly salary, whichever is lower. The minimum salary required to obtain the loan is ₹15,000 and ₹12,500 for metro centres and urban centres, respectively. You can pay the loan at interest rates ranging from 13.10%-15.10% per annum. The processing fee constitutes up to 1.80% of the loan amount plus the applicable Goods and Services Tax (GST). The best part is that there are no prepayment charges.
An Overview on SBI Personal Loan
SBI provides customized personal loans to help people fulfill their dreams of marriage and travel without any worry. Not only that, it even helps address the instant cash needs and medical treatment. The bank offers personal loans to the employees of central government, state government, quasi-government, central PSUs, profit-making state PSUs, educational institutions of national repute. These employees can get the loan for a maximum of 5 years. The minimum net monthly income required to obtain SBI Personal Loan is ₹5,000. The bank stipulates that the EMI, which stands for Equated Monthly Installment, does not constitute more than 50% of the net monthly income (NMI). You can get a minimum loan of ₹25,000 and a maximum amounting to 24 times NMI, up to ₹15 lakhs. You can get a processing fee equivalent to 1% of the loan amount plus applicable GST. The prepayment would come with charges of 3% on the principal outstanding plus applicable GST.
What About HDFC Personal Loan?
HDFC Bank offers personal loans of up to ₹40 lakhs at varied interest rates ranging from 15.50%-21.50% per annum for a period of up to 5 years. Employees of both public and private entities can apply for HDFC Personal Loan. Individuals applying for the loan must have been in the job for at least 2 years. They are required to work for a minimum of 1 year with the current organization. The minimum net monthly income required to get the loan is ₹15,000. However, people residing in Mumbai, Delhi, Bengaluru, Cochin, Ahmedabad, Hyderabad, Kolkata, Pune and Chennai must earn a minimum of ₹20,000 to be approved a personal loan. The processing fee is levied at up to 2.50% of the loan amount. However, the fee won’t exceed ₹25,000. You can prepay the loan at up to 2%-4% of the principal outstanding plus applicable GST.
A Take on ICICI Personal Loan
You can apply for ICICI Personal Loan to fulfill purposes such as wedding, travel, home renovation, etc. The bank can give you as much as ₹20 lakhs of personal loan for a maximum of 5 years. The money can come to the account in as quick as 3 seconds post the approval. You can get the loan at an interest rate of 11.25%-22% per annum. The processing fee levied is at up to 2.25% of the loan amount plus GST. The prepayment is possible but at a charge of 5% of the principal outstanding plus GST.
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Standard Chartered likely to open global branch in GIFT city
Latest Updates - CA Mitesh AHMEDABAD / MUMBAI: London-based Standard Chartered Bank is looking to increase India focus as it is set to open a branch in GIFT City, the country's first international financial services centre (IFSC).Indian companies having offshore presence can avail dollar loans from the business branch while the UK-based multinational bank would also invest in domestic securities as a foreign portfolio investor operating from there, said two people familiar with the matter.“The bank has applied to the regulator (RBI) to open a branch in GIFT city. It is being coordinated from its London office as this will be a global branch giving foreign currency credit,” one of the persons cited above told ET on condition of anonymity.“We are currently evaluating the option of opening a branch in GIFT City, Ahmedabad, and will inform about the developments in due course,” said Standard Chartered Bank spokesperson said.GIFT City enjoys the status of special economic zone, which offerS tax rebates especially to international entities setting up shops there.For example, the minimum alternative tax (MAT) is reduced to 9% in IFSC from 18.5%. Long term capital gain tax and dividend distribution taxes are abolished.Earlier on April 01, 2015; the Reserve Bank of India issued operating guidelines for setting up IFSC Banking Units at GIFT IFSC. About a dozen banks including the State Bank of India, ICICI Bank, Yes Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank are operating with their IFSC banking units.A business unit of such magnitude could employ at least 25-30 people, sources said.Those units typically transact in buyer’s credit, loan syndication, external commercial borrowings, trade finance.GIFT International Financial Services Centre permits banking transactions ranging from foreign currency loans (non-residents) to external commercial borrowings to Indian entities seeking foreign currency funds permitted under Foreign Exchange Management Act.Also, buying and selling of various foreign currencies are also allowed in theThe IFSC banking units have crossed business transactions of around US$ 16 billion from GIFT IFSC since they became operational, show official data.Foreign companies or domestic entities in joint venture with offshore counterparts take project financing support from those banks.India is likely to become the world’s second-largest economy by 2030, next only to China and overtaking the US, according to Standard Chartered’s long-term forecast released on Jan. 08 this year. Current emerging markets will likely make up the majority of the 10 biggest economies by 2030.Such prediction could well be a trigger for the global bank raising focus on India. Chartered Accountant For consultng. Contact Us: http://bit.ly/bombay-ca
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PAYSENSE INSTANT PERSONAL #LOAN NOW IN AHMEDABAD FOR YOUR QUICK FINNACE NEED. PAYSENSE AHMEDABAD BRANCH @Paysense Ahmedabad Shop No. 3, UL, Sun Plaza, Opp. SBI - ICICI - Axis and Indusind Bank, Above Fasttrack, Swastik cross road, CG road, Ahmedabad: 380009 Contact: 9328593014 Download And Check eligibility for Instant Loan: http://bit.ly/2Qd90BG Hello my all friends.. For Paysense Loan, Customers, Users, DSA and Support, Please contact above address for PAYSENSE AHMEDABAD. Like and follow us on FB page by click on https://facebook.com/paysenseahmedabad #paysense #ahmedabad #personalloan (at Ahmedabad, India) https://www.instagram.com/p/BzgWZ6rHlIi/?igshid=5ncr32lxmbcc
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LoansAndCredits.in is a Web Portal for Jains Technology Solution OPC Pvt Ltd is India’s leading channel partner for #personalloan #businessloan#homeloan #mortgageloan Used #carloan #carrefinance Used #loan Used #twowheelerloan #healthinsurance #carinsurance #motorinsurance #twowheelerinsurance#terminsurance #lifeinsurance – Authorized Channel partner of Banks & NBFC Apply Online: https://ift.tt/3iGPxWW Download Android App: https://ift.tt/2Q00K8Q LoansandCredits.in operates digitally and presence in Ahmedabad for giving service across the country and having 23 years of experience in IT, BPO, and Finance sector where company have more than 1,00,000 plus happy customers who inquired for their financial need. It is one of the reliable and trusted financial broker in India having authorized channel partnership with some of the leading financial institutions in the country. LoansAndCredits.in is an enrolled online presence and website of Jains technology solution opc private limited. All Rights Reserved. Item name, logo, brands, and different trademarks included or alluded to inside LoansAndCredits.in are the property of their individual trademark holders. What We Offer: LoanAndCredits.In offers you Salaried Personal Loan, Self Employed Personal Loan, Business Loan, SME Loan, Used Car Loan, User Car Refinance, New Car Loan, Used Two Wheeler Loan, Gold Loan, Home Loan, Mortgage Loan, Loan Against Property, Tractor Loan, Health Insurance, Motor Vehicle Insurance, Car Insurance, Taxi Insurance, Corona Protection Insurance, Two Wheeler Insurance, Bike Insurance, Term Insurance, Life Insurance, Life time free credit card, Visa Credit card, Master Credit card, Credit Repair Services And many more Cost of Loan: Loan Type: Salaried Personal Loan, Self Employed Personal Loan, Business Loan, SME Loan, Used Car Loan, User Car Refinance, New Car Loan, Used Two Wheeler Loan Loan Amount: Rs. 5000 to Rs. 25 Lakh Tenure: 6 Month to 60 Month (5 Year) Annual Percentage of Rate (APR): 11% to 36% Reducing Balance basis depend on Customer profile, credit history and other factors Processing Fees: 1% to 5% of Loan amount Cost of Loan Example: Loan Amount: Rs. 1,00,000 for 24 Months (2 Years) at APR 24% (Reducing Balance Basis) and Processing fees 2% (Rs. 2000) Which EMI (Equal Monthly Installment) would be Rs. 5287 each with the total Interest amount being 26891. We are authorized channel partner of India’s Leading Financial Institutes: Kotak Bank, HDFC Bank, INDUSIND Bank, ICICI Bank, RBL Bank, IDFC First Bank, Bajaj Finserve, Fullerton Capital, Edleweiss, Indiabulls, Paysense Instant Loan, Indiabulls Dhani Instant Loan, Capital First now IDFC First, Cholamandalam, Magma housing finance, Centrum housing finance, LendingKart, Aditya Birla, And many more… Process of Loan: LoansAndCredits.in is the fastest and quickest way to get any loan as your financial need. Follow these four steps to get an loan: 👉 Install the app loansandcreidts loan app or Apply online from our website 👉 Register and Fill the inquiry form for your loan and insurance requirement. 👉 Get a call from our experts for your detail and explanation of loan features and required documents. 👉 Provide KYC documentation like identity proof (Aadhar/PAN/VoterID), address proof (Aadhar/Utility bills/Rental Agreement), income proof (bank statement) and a photograph (selfie). 👉Sign necessary bank/nbfc application forms and necessary documents for approval for your loans. 👉 Once approved, the loan amount will be credited to your account within a few days. The LoansAndCredits.in app and website also offers an EMI calculator that gives you the freedom to decide your own EMI amount and the loan tenure. Eligibility In order to apply for easy and quick personal loans, you should fulfill the following criteria: 👉 You should be a resident of India 👉 Your age should be between 21 years to 65 years 👉 You must be a salaried employee or self-employed. 👉 You must be based at any one of the 50+ cities across India 👉 Salary should be more than 15,000 👉 Self Employed should be filed IT Return and having Bank statement Security and Privacy The LoansAndCredits.in loan and insurance app has been developed using the best security and privacy standards to ensure absolute data security. Our app is safe & secure to use and we do not share customer information with third parties without consent. This app and website is built to help you get a loan and insurance in quickly with best suitable finance institution. It also provides useful resources for Loans and Insurance. We look forward to serve you better for your financial need. Contact: LoansAndCredits.In - JAINS TECHNOLOGY SOLUTION OPC PVT LTD 301-302, Sarthak-2, Nr. Liberty showroom, Opp. Innovative Honda Showroom, Swastik cross road, CG road, Navrangpura, Ahmedabad: 380009 Contact Whatsapp or Call: 9558816181 Deepak Jain w: https://ift.tt/34aAm4j e: [email protected] by Deepak Jain
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NEW DELHI: Jaiprakash Power Ventures’ lenders, led by ICICI Bank, have restructured its debt by converting much of it into equity or convertible instruments, and approached the National Company Law Tribunal (NCLT) to withdraw their application for starting of bankruptcy proceedings.The outstanding debt of the Jaiprakash Associates group company has reduced to less than Rs 6,000 crore, from more than Rs 11,000 crore, following the restructuring. The terms involve an interest write back of about Rs 2,000 crore that will help the company report a net profit this fiscal, people in the know said.ICICI Bank, which had filed for initiating proceedings under the Insolvency and Bankruptcy Code against the company in 2018, last Friday moved an application before the Ahmedabad bench of NCLT for its withdrawal. Since the earlier petition is yet to be admitted, the bank will be allowed to withdraw it, said a person cited above.A Jaiprakash Power Ventures spokesperson confirmed that the lenders had approved the debt restructuring, but refused to divulge details. An ICICI Bank representative didn’t respond to queries until press time Monday.“The consortium of lenders has agreed to a restructuring whereby they reduced outstanding loan of Rs 11,282 crore to Rs 5,800 crore; the balance was converted into equity or compulsorily convertible preference shares,” said a senior banker involved in the process.73237125 As many as 22 banks and financial institutions have agreed to convert Rs 3,840 crore of debt into compulsorily convertible preference shares, with a maturity period of 29 years and coupon rate of 0.01%, said the banker. The remaining debt of Rs 5,800 crore on the company’s book will carry an interest rate of 9.50%, this banker added.People in the know said the restructuring would lead to an interest write back of nearly Rs 2,000 crore for the company, which in turn would enhance its net worth and make it profitable from the current fiscal year itself.“After the restructuring, the company’s annual interest cost burden will decline from nearly Rs 1,500 crore to less than Rs 600 crore, leading to a gain of nearly Rs 1,000 crore annually in interest cost alone,” said a senior company official, speaking on the condition of anonymity.Under the scheme of arrangement, Jaiprakash Power Ventures has also converted $110 million (equivalent to Rs 663 crore based on the exchange rate when the restructuring process started) of foreign currency convertible bonds (FCCBs) into equity at Rs 12 a share, as against the prevailing market price of less than Rs 2 per share.The company has also converted about Rs 350 crore of corporate loan from JSW Group into equity shares at Rs 10 each. After restructuring, JPVL has become a professionally run power company with original promoter JP group’s shareholding declining to 24%. Banks and financial institutions own a 42.643%, while FCCB holders got 8.36% and JSW Group have a tad over 5.1%. About 19% is held by public shareholders.JPVL has generating capacity of 2,220 MW (400 MW of hydel and 1,820 MW of thermal). It owns a 74% in a 224-km transmission network to evacuate power from the Karcham Wangtoo hydel project. from Economic Times https://ift.tt/2TgKfrQ
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