Jyoti Structures is an engineering, procurement and construction firm in the power sector, while Amin Group has interests in drug manufacturing, cane farming, livestock feed, oil and gas, recycling and power transmission. Queries sent to SBI, Jyoti Structures and Amin Group on 23 August remained unanswered till the time of going to press. “The final proposal by Amin Group prescribes a 50-55% haircut for lenders, and SBI is keen to approve it. According to information available with the lenders, one of the promoters at Amin Group, Dipen Amin, is said to have worked with Jyoti Structures in the past, the second person said. In the January-March quarter, Jyoti Structures reported stand-alone net loss of Rs.52.31 crore against net loss of Rs.90.95 crore a year ago.

Source: Mint August 28, 2016 18:22 UTC