Lenders may put McNally's debt under Project Sashakt to resolve bad loans

The McNally group has been paring debt across group companies

Lenders are considering a plan for resolution of McNally Bharat Engineering’s debt, which accounts for a chunk of the Williamson Magor Group’s dues, under Project Sashakt — a five-pronged strategy to resolve bad loans.

The engineering company has informed the stock exchanges that its board is evaluating the impact of the proposed resolution plan, the process for which was initiated by lenders under Project Sashakt within the ambit of RBI guidelines outside the National Company Law Tribunal. 

A board meeting held on February 13, to consider and approve the unaudited financial results for the December quarter, was adjourned and will