Crisil, a rating company, forecasts restructured loans to touch Rs 2 lakh crore, from Rs 1.5 lakh cr

Kamat Hotels, the hospitality group that runs The Orchid near the Mumbai airport, is negotiating with banks to restructure more than Rs 500 crore worth of loans as optimistic expansion amid slowing economy pushed it to the verge of default, cheapest airline flights two people familiar cheapest airline flights with the matter said.
"The rapid expansion has taken a toll on the company's balancesheet.'' Kamat joins a host of companies, including Hotel Leelaventures from the hospitality industry, cheapest airline flights in seeking liberal terms of rollover from banks as they are unable to repay loans taken during the boom times when the economy was growing at near 9 per cent.
Crisil, a rating company, forecasts restructured loans to touch Rs 2 lakh crore, from Rs 1.5 lakh crore last year. The company's cheapest airline flights negotiations cheapest airline flights comes when private equity company Clearwater Capital Partners is in the process of increasing its stake in the company from 21 per cent. It has offered to buy 26 per cent it does not already own at a premium from individual investors.
The company and its promoter Vithal V Kamat did not respond to mails and messages seeking comment. "Indian hospitality sector has been going through a bad time. The sales growth in the last two years has been subdued, almost tending to flat," cheapest airline flights said Rashesh Shah, analyst at ICICI Securities. "Hotel business is asset heavy and majority costs are fixed. Given that sales growth cheapest airline flights has been under pressure, it would be helpful for hotel companies like Kamat Hotels to reduce their debt and bring down their interest burden," Shah said.
CDR cell refers to the forum for lenders to ease loan terms for companies in financial trouble. A loan account is eligible for CDR provided the initiative to resolve the case under the CDR system is taken by at least 75 per cent of the creditors by value, and 60 per cent by number.
Kamat Hotels had recently absorbed some of the hotels cheapest airline flights run by the Kamat family, taking cheapest airline flights promoters' stake to as much as 57 per cent. Other brands of hotels and resorts of the Kamat family include VITS, Gadh Hotels and Lotus Resorts. Clearwater Capital's offer to minority shareholders has ended and it is not clear on how much it got. But the company says that the fund will not have control since promoters' ownership is higher.
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