Suzlon looks to exit CDR by first half of FY18

Says exit from the CDR cell is needed for its ratings

Wind energy turbine manufacturer Suzlon Energy says it hopes to exit the corporate debt restructuring (CDR) cell, which it had to enter due to a huge loan burden, in the first half of the next financial year. This is beyond the earlier expected March 2017 timeline.

"We are trying to exit as quickly as possible. There is a process in the banking sector; we have already initiated the process and since we have number of lenders and a set process with each lender, we believe it should likely to be concluded sometime in the middle of the next financial year," said