SBI planning to invoke personal guarantees of Bajaj Hindusthan promoters

The company owes Rs 4,771 crore to banks and has already availed two debt restructuring schemes, leading to massive haircuts taken by lenders

State Bank of India (SBI), the lead bank of Bajaj Hindusthan Sugar (BHSL), is planning to invoke the personal guarantees of promoters after the company was sent for debt resolution to the Allahabad Bench of the National Company Law Tribunal (NCLT). 
 
The NCLT is yet to admit SBI-led banks’ petition to start the corporate insolvency resolution process for BHSL.  
 
The company owes Rs 4,771 crore to Indian banks and has already availed of two debt restructuring schemes, leading to steep haircuts taken by lenders.
 
“We are taking steps to invoke the personal guarantees of promoters in accordance