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Ankit Metal & Power has said State Bank of India has proposed restructuring of its ₹992-crore debt, which includes term and working capital loans. According to the proposal put up with the corporate debt restructuring cell, bankers will take a haircut of ₹410 crore, the company said. Also, as part of the scheme, banks will extend fresh working capital loans and a two-year moratorium from February 1, 2014, on the existing term loans. Repayment of term loans will take place in eight years after the moratorium expires. Shares of Ankit Metal ended down 1.91 per cent at ₹8 on the NSE.
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