Bhel seeks direct disbursement of loans to complete stalled projects

To recover the Rs.20,000 crore owed by its customers, Bharat Heavy Electricals Ltd (Bhel) is trying to directly secure the disbursement of loans sanctioned to developers by lenders such as Rural Electrification Corp. Ltd (REC) for completing the stalled projects. While in the earlier arrangement, payment to Bhel was routed through the developers, a direct disbursement would also help the lenders to realize the stuck loans. “We are trying for direct payments from the lenders. This will be a win-win for both us and the lenders as they have loaned out money for these projects,” a Bhel executive said, requesting anonymity. more at: http://www.livemint.com/Companies/fEFvOC9HyKf2VXEFaIzQVN/Bhel-seeks-direct-disbursement-of-loans-to-complete-stalled.html