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| Exchange Disseminated Time | With reference to the letter dated December 23, 2015, informed that the Hon'ble High Court, Madras had on December 21, 2015 passed an Order on the Consent Memo filed jointly by the consenting Bondholders and the Company to the effect that the FCCB (Series B) aggregating to USD 11.7 Million will be settled at 65% of the face value on or before March 31, 2016, subject to the approval of Reserve Bank of India (RBI).
Sakthi Sugars Ltd has now informed BSE that the Company has obtained the approval of RBI and made part payment to the Bondholders i.e. 60% of the settlement amount. On application for grant of time for the payment of balance 40% of the settlement amount, the High Court has, vide its Order dated March 30, 2016 granted time till June 30, 2016. |
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