Ispat Alloys in negotiations for restructuring of its loan
Kalkuta based Ispat Alloys Limited (IAL) which is a part of Ispat Group, owned by Mittals, is in negotiations with its creditor bank for the restructuring of a Rs 110 crore loan ($23.1 million), including a $12 million loan. According to market reports, Ispat Alloys Ltd. is planning to finance this loan with the next financial year's turnover. Meanwhile, Ispat Industries Limited reached to an agreement on restructuring the company's debt of Rs 7.000 crore (around $1.47 billion) with the financial institutions by receiving a respite.