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No Sympathy For Mismanaged Companies In CDR: Rajiv Takru

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Some rating agencies have expressed concern about asset quality; they expect NPAs and CDRs to rise and see refinancing risks for some corporates. “We cannot allow projects to sink because of a bad economic environment,” Financial Services Secretary Rajiv Takru says, adding that some firms are taking advantage of the situation to restructure corporate debt and gain undue benefits. “Banks need to be tough with these companies,” he says.