Kinara Capital Lenders Issue Loan Recall Notices

ICRA downgraded Kinara Capital’s bonds and loans after some of its lenders appropriated fixed deposits and issued loan recall notices

The credit rating agency said, the NBFC is contemplating various options, including sale of assets and the corresponding transfer of liabilities

As of June, the company had a total debt of INR 1,853 Cr from 46 lenders, ICRA said

Kinara Capital is facing a liquidity crunch after some of its lenders appropriated fixed deposits and issued…