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| Exchange Disseminated Time 29/09/2016 14:56:44 | Hindustan Motors Ltd has informed BSE that the Company has redeemed the first instalment of 10.25% Non-Convertible Secured Debentures, the payment of which was due on September 29, 2015 along with the interest (including the penal interest) thereon.
Further, in view of the financial crunch faced by the Company, it has not redeemed the second instalment of 10.25% - Non-Convertible Secured Debentures of Face Value of Re.1/- amounting to Rs. 684.33 lacs and has not paid interest thereon (net of taxes) amounting to Rs. 140.67 lacs due on September 29, 2016.
The above said Debentures were allotted to the lenders (banks and financial institutions) against the payment of recompense of interest amount as approved by Corporate Debt Restructuring Empowered Group at its meeting held on June 28, 2014.
As per the Company’s Code of Conduct for Prohibition of Insider Trading, the Trading Window for dealing in the securities of the Company will remain closed for all promoters/directors/designated persons and their immediate relatives from September 30, 2016 to October 02, 2016 (both days inclusive). |
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