The RBI mandated overseeing committee has approved the Scheme for Sustainable Structuring of Stressed Assets (S4A) for Hindustan Construction Company Ltd. The ICICI-led Joint Lenders’ Forum had proposed the scheme for the infrastructure major, the company said in a statement on Sunday. HCC said it is the first company to secure approval from the committee under the RBI’s S4A scheme. Its total funded debt of about Rs. 5,107 crore has been considered under the scheme, which will be divided into two parts. The first part (sustainable debt) amounts to Rs. 2,681 crore (52.50 per cent of the total debt). The second part (unsustainable debt) totals Rs. 2,426 crore (47.50 per cent). The lenders will subscribe to 24.44 per cent fresh equity (Rs. 1,008 crore, assuming a Rs. 40 rate), which will bring down the promoter holding from 36.07 per cent to 27.44 per cent.