Only nine large firms' debt of Rs 59,000 crore recast by banks so far

Kamath panel approved all the nine proposals of banks

Nine firms, including three Future group companies, were approved by the KV Kamath committee for debt restructuring under the Reserve Bank of India’s one-time restructuring scheme of last year. The total debt of these nine firms was close to Rs 58,900 crore, bankers said.

All the nine proposals were cleared by the KV Kamath Panel, set up by the RBI to vet the proposals, without going into their commercial aspect. Banks were asked to send debt recast proposals to the panel for loans over Rs 1,500 crore.

Sources said only nine proposals were received by the Kamath Panel, all of which were