Hi Jigar,
If you can fix a meeting with the mgt., I ‘ll be happy to come from Mumbai for the same, but I suspect the mgt. may not oblige. Mgt. credibility is amongst the negatives in my view.
How much of the debt amount is finally settled for is not known. The earlier CDR failed to materialize as the revenues from the IT project did not come through. The mgt. & the developers may well be hand in glove. I won’t be surprised if the mgt. goes for a share buy back when they feel that they are in a position to settle with the banks. I feel confident that there is enough juice in the project because the mgt. willingly paid 50 crores to the banks towards debt repayment a couple of years ago.
The key here is to follow the development of the real estate project. The gains will come from there.
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