Sanjeev Gupta’s InfraBuild says it has won a reprieve from bondholders who will lend the steel-making business another $US150 million ($240 million) it can use to pay back other debts that are due next year.

The company also said that it had been granted permission to delay the release of its audited accounts for the financial year ending June 30 last year – it has already delayed their release five times – until May 31.