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| Exchange Received Time 20/09/2018 15:49:03 Exchange Disseminated Time 20/09/2018 15:49:06 Time Taken 00:00:03 | We wish to inform that a Comprehensive Debt Resolution Plan has been presented to the lenders of the Company with a view to address the existing cash flow mismatch. This is in line with the Company objective of aligning its debt obligations with the operational cash flows and come up with a long term sustainable solution. The Sale of assets (hotel business and surplus land) for which the approval of shareholders were obtained on December 28, 2017 and August 3, 2018, are also proposed to be a part of the aforesaid resolution plan.
The Company is awaiting the relevant approvals from the consortium of lenders. Concrete developments on the same shall be timely informed by the Company.
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