Arvind Mills Limited : financial restructuring /

On January 25, 2001 lenders to Arvind Mills Limited (AML) received the Information Memorandum on Debt Restructuring. During the year 1999-2000 AML did not generate adequate operational cash to service its debt. The Company held two meetings with its lenders in Ahmedabad in early March 2000 to formal...

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Bibliographic Details
Main Author:	Sinha, Sidharth (Author)
Format:	eBook
Language:	English
Published:	London : Indian Institute of Management, Ahmedabad, 2015.
Series:	SAGE Knowledge. Cases.
Subjects:	Arvind Mills Limited > Management. Financial risk management > Case studies. Crisis management > Case studies. Debt relief > Case studies. Organizational change > Case studies. Textile industry > India > Ahmadābād > Management. Finances > Gestion du risque > Études de cas. Gestion de crise > Études de cas. Changement organisationnel > Études de cas. Textiles et tissus > Industrie et commerce > Inde > Ahmadābād > Gestion. Crisis management Debt relief Financial risk management Management Organizational change Textile industry > Management India > Ahmadābād Electronic books. Case studies Case studies. Études de cas.
Online Access:	Connect to the full text of this electronic book

Description
Summary:	On January 25, 2001 lenders to Arvind Mills Limited (AML) received the Information Memorandum on Debt Restructuring. During the year 1999-2000 AML did not generate adequate operational cash to service its debt. The Company held two meetings with its lenders in Ahmedabad in early March 2000 to formally announce its intention for restructuring of its obligations. The lenders elected representatives to form a Steering Committee (SC) consisting of 12 members, eight foreign lenders and four Indian lenders. Over the course of ten months, between March and December 2000, the Company met the Steering Committee five times to negotiate the restructuring plan. Finally, on November 14, 2000 the Steering Committee approved the restructuring plan for launch to all lenders.Lenders were required to submit the Term Sheet approval by February 28, 2001. The Restructuring Scheme would be implemented if at least 75% of the lenders in value terms approved the Term Sheet. The lenders needed to decide if they should approve the Scheme. In addition they would need to elect the share buyback scheme and the debt restructuring plan.
Item Description:	Originally Published InSinha, S. (2015). Arvind Mills Limited: Financial restructuring. Ahmedabad, India: Indian Institute of Management, Ahmedabad.
Physical Description:	1 online resource : illustrations.
ISBN:	9781526487353 1526487357