Simplex Infrastructures Executes Master Restructuring Agreement with NARCL to Address ₹9,600 Crore Debt

Simplex Infrastructures, a prominent engineering, procurement, and construction (EPC) company, has formalized a Master Restructuring Agreement (MRA) with the National Asset Reconstruction Company Limited (NARCL). This strategic move aims to restructure Simplex's substantial debt, which stands at approximately ₹9,600 crore. Under the MRA, NARCL plans to bifurcate the debt into sustainable and unsustainable portions, potentially writing off the latter to facilitate the company's financial recovery. This agreement follows NARCL's acquisition of over 85% of Simplex's outstanding debt from various lenders, including Punjab National Bank and State Bank of India, at a significant discount. The restructuring is expected to enhance Simplex's financial stability and operational efficiency.

Image Source: The Economic Times