SBI-led lenders to Calyx Chemicals agree for 95% haircut in takeover bid

By Beena Parmar

  • 30 May 2019
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Credit: Thinkstock

State Bank of India and other creditors to Calyx Chemicals & Pharmaceuticals Ltd will get less than 5% of their loans back after a bankruptcy court allowed a consortium to take over the bankrupt drugmaker. Mumbai-based Calyx Chemicals owed its financial and operational creditors Rs 1,678.8 crore, according to regulatory filings. ......

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