Chief financial officer Kirti Vagadia says: "I regret to announce today that the bondholders' meetings did not achieve the consensus we were hoping for."
But he adds: "We continue to enjoy the support and confidence of our secured lenders for our business objectives. We expect that an acceptable solution for all stakeholders will be arrived at the earliest possible [time]."
Industry sources point out that the FCCB debt is unsecured, and that bond holders have an interest in reaching a settlement with Suzlon over a new payment schedule.
Suzlon
