A Brazilian court has approved the reorganisation of the debt of Shree Renuka Sugars ‘ subsidiary in the country. The recast slashes Renuka Vale do lvai’s debt by Rs 168 crore, the company’s management said.
While the plan to restructure the debt was approved by creditors on June 6, the court order came on Tuesday, Narendra Murkumbi, Vice-chairman and Managing Director, Shree Renuka Sugars told CNBC-TV18. The debt recast coupled with improved fundamentals of sugar business and weak Brazilian currency will help the parent turnaround Renuka Vale do lvai, he said
Below is the verbatim transcript of Narendra Murkumbi’s interview to Surabhi Upadhyay on CNBC-TV18.
Q: If you could sheds some light on what the nex…