JCT LTD. - Updates
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| 08 Jun 2015 | |
| With reference to the earlier letter dated June 04, 2015, JCT Ltd has now informed BSE that the Honble High Court of Punjab & Haryana at Chandigarh on June 05, 2015 has allowed and taken on record the compromise between the Company, Bondholders and Trustee (hereinafter called the "parties") in connection with the payment of the dues, in full, of the outstanding Foreign Currency Convertible Bonds (FCCBs) (beyond maturity) over a period of 2-1/2 years approximately commencing from June 05, 2015.<BR><BR>While passing the Orders, the Hon'ble Court has adjourned the matter sine die to give the parties time that is required to complete the process of settlement and;<BR><BR>- Granted liberty to the Trustee in pursuance of the consent terms to apply to Court to revive their Company Appeal filed by the Trustee and seek revival of the interim order passed by the High Court.<BR><BR>- Granted liberty to the Company limited to the extent to apply to the Court to revive their Company Appeal filed by the Company only in case of non receipt of RBI approval as defined in the Consent Terms signed by the Parties or the receipt of the RBI approval on terms not acceptable to the Bondholders. | |
| View all announcements for JCT LTD. | Source: BSE India |
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