<p>A 22-member lenders’ consortium led by ICICI Bank has failed to agree on a proposal from ABG Shipyard to recast its Rs 11,500-crore loan, a majority of which turned into dud assets on their books, sources said here.<br /><br /></p>.<p>“There was no consensus on the terms of the loan restructuring proposal from ABG Shipyard at the corporate debt restructuring cell meeting held last Friday,” a senior official of a state-run bank said, adding that banks are not sure about promoter’s ability to bring in fresh equity of around Rs 300 crore.<br /><br />Sources said the consortium has around Rs 2,600 crore exposure to the company, while ABI’s exposure is around Rs 1,600 crore. Other lenders include IDBI Bank with Rs 1,400 crore, while Punjab National Bank and Bank of Baroda have around Rs 700 crore each and Exim Bank has Rs 700 crore.<br /><br />Another public sector lenders said that promoters have already brought in Rs 80 crore as fresh equity, but they are not sure about their ability to bring in Rs 220 crore more.<br /><br />“If the promoters can bring in this amount before the end of the month, then it could still be worked out,” the source said. The company has been looking to recast its Rs 11,500 crore loan since November last year. </p>
<p>A 22-member lenders’ consortium led by ICICI Bank has failed to agree on a proposal from ABG Shipyard to recast its Rs 11,500-crore loan, a majority of which turned into dud assets on their books, sources said here.<br /><br /></p>.<p>“There was no consensus on the terms of the loan restructuring proposal from ABG Shipyard at the corporate debt restructuring cell meeting held last Friday,” a senior official of a state-run bank said, adding that banks are not sure about promoter’s ability to bring in fresh equity of around Rs 300 crore.<br /><br />Sources said the consortium has around Rs 2,600 crore exposure to the company, while ABI’s exposure is around Rs 1,600 crore. Other lenders include IDBI Bank with Rs 1,400 crore, while Punjab National Bank and Bank of Baroda have around Rs 700 crore each and Exim Bank has Rs 700 crore.<br /><br />Another public sector lenders said that promoters have already brought in Rs 80 crore as fresh equity, but they are not sure about their ability to bring in Rs 220 crore more.<br /><br />“If the promoters can bring in this amount before the end of the month, then it could still be worked out,” the source said. The company has been looking to recast its Rs 11,500 crore loan since November last year. </p>