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FCCBs of 17 cos unlikely to be redeemed on time in FY'13'

"For the remaining period of this fiscal, FCCBs worth USD 1.51 billion belonging to 23 companies are due. We expect that 67 percent of the outstanding dues belonging to 17 companies are unlikely to be redeemed on time. These may be restructured or go into outright default," India Ratings said in a report here.