India Inc pays off foreign loans by borrowing more

Most of India Inc seem to have borrowed afresh to meet their foreign currency convertible bonds (FCCB) obligations in 2012. Of the 45 Indian companies whose FCCBs were due for redemption between March and mid-October 2012, 19 managed to redeem the bonds on the due dates. The list includes Reliance Communications, Strides Arcolab, Tata Motors, Tata Steel and Jaiprakash Associates.

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