Funding pains for Wockhardt
Few weeks ago, NDTV broke the story about Wockhardt's financial mess and now as things turn out, the mess has worsened. It is because the company, which has Foreign Currency Convertible Bonds (FCCBs) worth close to $110 million up for redemption later this year, is now at a loose end to find fresh funding. Sources reveal that consortium bankers have met up behind closed doors to discuss the concerns.
