Bajaj Hindusthan Sugar on Friday said the Joint Lenders' Forum (JLF) has decided to consider its loan account under the 'Scheme for Sustainable Structuring of Stressed Assets' (S4A Scheme).
According to Bajaj Hindusthan Sugar, the JLF of the company took the decision in this regard at its meeting held here on Friday.
"The JLF at its meeting held today has taken a decision that the loan account of the company will be taken up for consideration under the S4A scheme introduced by RBI," the company said in a regulatory filing to the BSE.
"The bankers shall evaluate and formulate the resolution plan as envisaged in the scheme for implementation."
The company added that it has shelved a proposal for sale of its co-generation power business to repay debt.
--IANS
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