Bajaj Hindusthan Board gives in-principle nod for capital restructuring

Bajaj Hindusthan Sugar, India's largest sugar manufacturer, on Thursday received the Board's in-principle nod for exploring options for capital restructuring, resolution plan for debt and other corporate restructuring. A decision in this regard was taken at the Board's meeting held on Thursday, according to a regulatory filing.

The Board "has granted in-principle approval for exploring/ evaluating various options for capital restructuring/ realignment, resolution plan for debt, merger of power business in the group, demerger of its existing operations and other corporate restructuring to streamline the corporate structure and enhance stakeholders' value," the company said.

The board also delegated powers to the company officials to explore/evaluate these various options in consultation with advisors, it added.