Construction Industry News
The company, promoted by Ashok Leyland and Hinduja Automotive, would vacate the land acquired for that endeavour if it does not receive one more year’s extension, its managing director B Swaminathan said. The 1959-founded firm, with three plants now, has sought to restructure its loans to the tune of Rs 205 crore.
We have asked the banks to defer the repayment of the principal amount in the event that there are any unanticipated downturns in the industry," Swaminathan said in a statement here.
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