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| Exchange Received Time 29/12/2017 15:39:05 Exchange Disseminated Time 29/12/2017 15:39:09 Time Taken 00:00:04 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company has entered into One Time Settlement (OTS) with Kotak Mahindra Bank ('KMBL') on December 29, 2017 against the term loan borrowed by the Company from KMBL.
Purpose of the OTS: Resolution of NPA Debt.
Summary Details of the OTS: Settling Company's dues for a consolidated agreed amount of Rs. 7.50 Crore payable by January 31, 2018 without interest and charges.
Out of which an amount of Rs. 1.00 Crore has been paid today on December 29, 2017 and the balance amount of Rs. 6.50 Crore shall be paid by January 31, 2018.
This is for your information and record please.
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