|
| Exchange Received Time 09/10/2018 18:42:30 Exchange Disseminated Time 09/10/2018 18:42:37 Time Taken 00:00:07 | Reference above, this is to inform you that the Company has entered in One Time Settlement (OTS) with three Lender Banks among consortium members viz- IDBI Bank Ltd, Bank of India and Central Bank of India. The details of the same are as under:
1.Reason for opting for OTS
As reported in FY 2016-17, the Company's Loan account was categorized as NPA with banks. The company was resolving its debts with IDBI Bank, Bank of India and Central Bank of India. Meanwhile, the company has obtained the no dues certificate (NDC) from the above banks on payment of full and final settlement amount.
2.Brief summary of the OTS
The company has made full and final payment under OTS/NS Scheme as follows:
IDBI Bank Limited - Rs. 23.00 Cr.
Bank of India - Rs. 13.00 Cr.
Central Bank of India - Rs. 5.00 Cr.
Now, all the accounts of the company became Standard and Regular.
Please take this information on record.
|
|
|