The Robin Raina-helmed company, having failed to repay lenders despite getting multiple extensions, now faces the prospect of bankruptcy.
NASDAQ-listed Ebix Inc. has another 24 hours before its agreement with lenders to repay a large chunk of a $600 million credit facility expires.
The technology company and its Indian-origin CEO, Robin Raina, have been granted multiple extensions for repayment over the last couple of years. The deadline for the latest such extension ends on 18 December.
Whatever decision the lenders take, Ebix’s future looks uncertain. Questions sent to Raina and Ebix on email and WhatsApp did not elicit a response.
A failure to repay the consortium of US lenders, led by Regions Bank, could see Ebix go into bankruptcy, …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi