Triton guarantee for AMW Motors encashed as it fails to pay

Triton had offered ₹210 crore in cash to creditors of AMW Motors at more-than-94% haircut to lenders that have admitted claims of ₹3,756 crore. The NCLT had approved the plan in December giving Triton 45 days to complete the transaction. However, Triton failed to make the payment in the stipulated time as a result of which the guarantee was invoked, people familiar with the matter said.

from Banking/Finance-Industry-Economic Times https://ift.tt/k48RZJV