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DLF clears debt to some banks

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Top brand of realty DLF has recently made a sum to accounts of the banks as a part the debt clearance. According to the sources of www.propertykhazana.com around 1000 crores of rupees has been delivered to a clutch of banks owing the debts. At the same time the company also has moved to raise another Rs 1750 crore from other group of banks including SBI and PNB.
In general, the realty giant has converted the mode of short term overseas debit into the long term Indian credit. Source of www.propertykhazana.com also reveals that initially the overseas debt was cheaper as compared to the Indian and now the Indian banks have become more cautious in lending funds to real estate. However, the situation has changed now and so the company has decided to clear the earlier debts of the company to some but no names were revealed by the company heads.
There is another vibe by an official of the company is that “no approach has been made by the company to revive the restructuring of its loan”. After the declaration of the RBI to the banks to consider the restructuring of these accounts for another couple of years has made the realty industry relief as it was already injured with low sale graph and liquidity crunch. On the other hand DLF has gone down deeply to the scores of BSE with 5.4 percent fall which is now recording a low in 52 weeks. For more and latest realty updates browse www.propertykhazana.com.
Source: NBTVLIVE

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