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| Exchange Disseminated Time 06/08/2016 20:04:08 | MIC Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 06, 2016, inter alia, approved the following:
1. The company and State Bank of India have mutually agreed for a one time settlement of working capital loan as per the settlement letter dated August 03, 2016. The bank has agreed to waive the total outstanding interest of Rs. 22.46 crores: As a result, the total outstanding due of the company towards this loan has reduced to Rs. 57.43 Crores. |
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