.......After companies and banks started taking undue advantage of the debt restructuring process, the Reserve Bank of India (RBI) made the norms concerned stringent by prescribing high contribution from promoters. As on June 30, 549 cases had been referred to the corporate debt restructuring cell. Of these, 92, worth about Rs 40,000 crore, were closed or rejected, against 87 cases worth Rs 37,000 crore in March. The data for September are still been finalised; bankers expect the numbers to rise............
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