HFCL Infotel Ltd has informed BSE that IDBI Bank Ltd, Life Insurance Corporation of India, Oriental Bank of Commerce, ING Vysya Bank Ltd, State Bank of Patiala, HDFC Bank Ltd and Punjab National Bank ("Lenders") have provided/ sanctioned certain credit facilities to the Company.
The Corporate Debt Restructuring Cell ("CDRC") in connection with the aforesaid credit facilities has offered to restructure the aforesaid credit facilities vide its letter dated August 13, 2009. The IDBI Bank Ltd. vide its letter dated September 10, 2009 ("Letters") has accorded its in principle approval to proposed restructuring of the credit facilities provided by the Lenders to the Company.