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Mumbai , Sept 20

THE Corporate Debt Restructuring Cell launched its Web site, (www.cdrindia.org) providing information about CDR mechanism's three-tier structure, members, restructuring proposal format, restructuring process and the monitoring mechanism.

The Web site has information on policy guidelines, performance statistics and documents containing international experiences.

Mr V.P. Shetty, Chairman and Managing Director, IDBI and Chairman of CDR Standing Forum and CDR Core Group, officially launched the Web site on September 16, said a press release.

The launch was held at the meeting of the CDR Core Group in IDBI Tower.

The CDR Mechanism was instituted as per the guidelines issued by the Reserve Bank of India in August 2001 to ensure timely and transparent co-ordinated programme of restructuring the debts of viable corporates and to minimise the losses to creditors and other stakeholders.

As on August 31, 124 cases having aggregate debt of Rs 72,721 crore were restructured, of which 97 have been fully implemented, with nearly 75 per cent cases performing well and meeting their debt service obligations on time, the release added.

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