INDIA: Sebi Questions Arvind On Rights Issue
The Securities and Exchange Board of India (Sebi) has asked Arvind Mills for more detailed information following the filing of its Rs 75 crore rights issue, the Business Standard reported. The company has been asked about the `sacrifices' that the banks and financial institutions would have to make in reducing its debt burden and the restructuring which is under way at the company. Banks are expected to sacrifice close to Rs 1,000 crore as part of the restructure.
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