Mumbai/New Delhi, July 6 -- Vodafone Idea's Rs.35,000-crore debt plan is facing scrutiny, with lenders prevailing upon the company to scale back its financial projections, while also demanding a corporate guarantee from another Aditya Birla Group firm, according to two people aware of the development. The demands underscore banks' insistence on stronger safeguards before extending one of the sector's biggest loans.

The people in the know said the earlier business projections made by the company were too optimistic and have thus been tempered to "manageable levels". Typically, companies submit cashflow and other business projections as part of their borrowing requests.

Bankers are still discussing the loan proposal, and no concrete decis...