|
| Exchange Received Time 23/10/2017 12:23:59 Exchange Disseminated Time 23/10/2017 12:24:06 Time Taken 00:00:07 | Dear Sir,
As intimated earlier that the Board of Directors of the Company in its meeting duly held on 21.09.2017 has approved the One Time Settlement (OTS) with SICOM Limited for an amount of INR 42.50 Cr towards total outstanding of INR 115.39 Cr. (as per SICOM Ltd.)
We would like to further intimate the Stock Exchanges that the Company and SICOM Limited have entered into a definitive Settlement Agreement on 18th October, 2017 on the following terms:
A. Cash Payment- INR 17.50 Cr.
B. Issuance of Shares for INR 25.00 Cr. in terms of Chapter VII of SEBI ICDR Regulations.
You are requested to take the above information on record.
|
|
|