Mukand lenders seek Rs 50 crore as alternative to personal guarantees
The Bajaj and the Shah families, promoters of steel firm Mukand, have to pay a price for their ongoing family feud. The promoters, unwilling to furnish personal guarantees for loans because of the tiff between Rahul and Shishir Bajaj, have been asked by the financial institutions to pay Rs 50 crore as an alternative.
Mukand is finalising an amended restructuring package prepared by the lenders. According to the plan, the promoters will pay Rs 50 crore over the next six months. This would allow the company to do away with the lenders
