Sadbhav Engineering: SBI, ICICI Bank Join Debt Restructuring

Sadbhav Engineering Limited announced that two additional lenders, State Bank of India (SBI) and ICICI Bank, have signed a Deed of Accession to the Master Restructuring Agreement (MRA). This follows an earlier announcement on March 26, 2026, regarding the signing of the MRA with a majority of consortium lenders. The Deed of Accession formalizes the inclusion of SBI and ICICI Bank as assenting lenders to the debt restructuring plan. The agreement pertains to a debt aggregating ₹194.93 Crores, comprising ₹167.86 Crores fund-based exposure (to be restructured as non-convertible debentures) and ₹27.07 Crores non-fund based limits. Key terms include lenders' right to appoint nominee directors, conversion of interest on debentures into equity, and conversion of promoter debt into equity.