Subhiksha stated on Monday that the constant corporate debt restructuring procedure in the company would take more 6 weeks to be done and any move concerning debt increase would take place after that phase.
Any probability of increasing debt to revive the company’s business would take place after the corporate debt restructuring is done.
Subhiksha, whose business has been idle since the last 2-3 months, need nearly Rs.300 crore of liquidity to revitalize the company’s dealings.
ICICI Venture has not communicated anything in the past few days.
The amalgamation matter between Subhiksha and Blue Green Constructions would be presented for trial on 9th March.