HCC – Too old to fail..!

HCC (Hindustan Construction Company) got reprieve from the lenders last week with the invocation of S4A (Scheme for Sustainable Structuring of Stressed Assets) scheme, released by RBI to tide over the bad debt crisis. The invocation of the scheme reflects lenders confidence in the strength of the company. A ninety-year old company should ideally fall in the category of ‘too old to fail’, but somehow, it almost lost the plot in the last 6-7 years going through painful phases of CDR, debt restructuring and now S4A.

Continue reading