Revised Swc Debt Repayment Mandate To Be Presented Today

The Calcutta High Court-appointed chairman for the Shaw Wallace creditors' meeting, N C Roychowdhury, will place the revised mandate for the repayment plan through supplementary affidavits today. The high court is expected to give its verdict on the issue once the affidavits are filed. Last Friday, the chairman had told the court that creditors, accounting for 76.35 per cent of the company's debt, have voted for the company's repayment schedule. The original report of the officer states that 61 per cent of the creditors, in terms of value, voted in favour of the SWC plan. But, three other major creditors including Videocon and Casion Finance which had voted against the plan, have subsequently filed affidavits and sent letters to SWC, stating that they were changing their earlier opinion and would now support the plan. (Our Bureau)